World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

The markets opened mostly lower (except soyoil) with modest short-position building and long liquidation ahead of the WASDE. The biggest news item of the morning was President Trump noting that he has not agreed to suspend tariffs on Chinese goods, though earlier reports/rumors suggested he was willing to do so. Today’s news created liquidation in soybeans and hog futures with corn bleeding lower as well.  As is discussed in more detail below, the WASDE held relatively few surprises, especially in comparison to other reports this spring/fall. The early reaction to the report was buy corn/sell soybeans, which might have been the result of a desire to reverse spreads established earlier. That dynamic didn’t last too long how...

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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

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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