General Comments Futures started out lower in overnight electronic trading, but it did not take long for support to develop. When corn and soybean prices pushed through resistance at $7.35 and $14.60, respectively, chart-following funds took notice. The overnight strength continued today. It was one of those times when fundamental considerations and technical chart signals coincided with soybeans leading the way.The fundamental considerations involved drier forecasts for Argentina and southern Brazil. The GFS model has gradually reduced the amounts and the coverage of the weekend rain it foresees. It is now calling for amounts of about a half-inch or less with 50-55 percent coverage. This is down from an inch or more and 85 percent cover...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.