World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

Markets continue to reel from the August WASDE with the trade trying to decide if USDA’s latest figures are wrong, right, or somewhere in between. One could make the case either way with its estimates being the best available at a given time but also subject to the fact that the world (and markets) are constantly changing. While USDA’s job is to give its most accurate supply/demand forecasts for the entire world at a specific point, the futures market’s job (among other things) is to estimate the future price for a commodity. To a certain extent, it doesn’t matter whether USDA’s forecasts are right or wrong if cash and futures markets can function freely and converge during the delivery period. The WASDE should...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close.  Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close.  Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close.  Jan 21 Soymeal closed at $390.2/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support

The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...

Approaching $6.94 Trillion in COVID Relief, With $26 Billion More For Ag?

The lame duck session of Congress continues to work on a funding bill to meet the 11 December deadline when the current continuing resolution expires. Moreover, it appears that a bipartisan effort at another round of COVID relief could also be a part of the deal. A group of lawmakers from both...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close.  Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close.  Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close.  Jan 21 Soymeal closed at $390.2/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support

The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...

Approaching $6.94 Trillion in COVID Relief, With $26 Billion More For Ag?

The lame duck session of Congress continues to work on a funding bill to meet the 11 December deadline when the current continuing resolution expires. Moreover, it appears that a bipartisan effort at another round of COVID relief could also be a part of the deal. A group of lawmakers from both...

Empowering the Political Class

Ronald Reagan famously said, “If you want more of something, subsidize it; if you want less of something tax it.” Some countries are moving forward with taxes on technology companies. After all, they are big, rich and offer up an easy fillip on government revenues. However, it can a...

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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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