SPREADS Sep/Dec corn spreads continue to have heavy volume, with nearly 80K traded Monday, and is trading from 12 1/4c to 12 1/2c today. The spread traded out to 13c before encountering short-covering activity. Short-covering was noted in corn yesterday, with September open interest declining by 31,196 contracts, while March picked up 12,656 new contracts. Bean spreads remain fairly quiet with Sep/Nov trading from 2 1/4c to 3 1/4c carry. Sep/Dec meal spreads are slightly narrower trading into $4.80 from $5.40. PALM OIL Prices gained on Tuesday after data showed that Malaysia's July exports grew 20% on the year to hit a record high of 1.78 mmt according to CGS-CIMB. Cash offers for RDB palm and ol...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.