World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: WASDE Cuts S. American Crops, Raises U.S. Carry-Out; Report Whipsaws Soybeans

Today’s CBOT trade was all about the WASDE with markets trading quietly lower before the report’s noon ET release. The report, while mostly in-line with expectations, elicited a swift, selloff reaction from the markets after its release, as the USDA increased ending stocks for all the major U.S. commodities. That selloff was subsequently reversed in soybeans due to the effects of drought in Brazil and Argentina and the corn market similarly pared its losses such that old crop futures ended 1-2 cents lower. Funds were modest net buyers in the soy complex and net sellers in wheat, but the CBOT is apt to remain range-bound going forward while additional clarity comes regarding the South American crops.  The January WASDE was...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 22 Corn closed at $6.12/bushel, up $0.0175 from yesterday's close.  Dec 22 Wheat closed at $7.805/bushel, down $0.2225 from yesterday's close.  Nov 22 Soybeans closed at $13.9/bushel, up $0.09 from yesterday's close.  Dec 22 Soymeal closed at $400.6/short ton, up $4.5 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: Bad Day for Wheat

It was a somewhat volatile open but there was one certainty – wheat was going down. Joined by soyoil. Lower wheat weighed on corn, which hung on for a small gain. The story remains one of better weather and not much else to talk about, except shipments of grain out of Ukraine are occurrin...

Western Currency Dominance

Western sanctions have bolstered interest by China and Russia in creating a third reserve currency to challenge the dollar and the euro. There is discussions of creating a BRICS (Brazil, Russia, India, China, South Africa) based basket currency similar to the IMF’s SDR’s. After all,...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 22 Corn closed at $6.12/bushel, up $0.0175 from yesterday's close.  Dec 22 Wheat closed at $7.805/bushel, down $0.2225 from yesterday's close.  Nov 22 Soybeans closed at $13.9/bushel, up $0.09 from yesterday's close.  Dec 22 Soymeal closed at $400.6/short ton, up $4.5 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: Bad Day for Wheat

It was a somewhat volatile open but there was one certainty – wheat was going down. Joined by soyoil. Lower wheat weighed on corn, which hung on for a small gain. The story remains one of better weather and not much else to talk about, except shipments of grain out of Ukraine are occurrin...

Western Currency Dominance

Western sanctions have bolstered interest by China and Russia in creating a third reserve currency to challenge the dollar and the euro. There is discussions of creating a BRICS (Brazil, Russia, India, China, South Africa) based basket currency similar to the IMF’s SDR’s. After all,...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Rising Feed Costs and Hot Temperatures Force Some to Sell Hogs Here in August average feedstuff prices have continued to climb as a result of higher soybean prices and the loss of corn supplies from Ukraine. Since the start of July, the average producer’s price for soymeal has c...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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