World Perspectives
feed-grains soy-oilseeds wheat

AM Outlook - Bet is Against Corn

GOOD MORNING, Major trends continue, namely buying beans/selling corn, and buying soyoil/selling meal.  The new crop bean to corn ratio traded to new highs at 2.42:1, seeing more strength than has been a seasonal tendency for this time of the year, though most pronounced when China's buying activity was at its strongest, such as in 2016.  The largest commitment in terms of fund position taken in front of the USDA report is that of adding to bearish positions in corn. Funds added an estimated 50K contracts to the ledger this week, taking the combined futures/options position now at 150K.  The farmer remains fairly quiet with some minor movement when prices head towards trading range highs.  Basis remains steady to firm...

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feed-grains soy-oilseeds wheat

Market Commentary

Spread trade was the biggest feature of the day with traders rolling out of December contracts and into deferred contracts. December options expired this afternoon and there was a solid round of positioning/rolling contracts around that fact. Wheat futures were higher with no deliveries yet reg...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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