World Perspectives
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Market Commentary: CBOT Consolidates Amid Argentine Dryness, Slow Export News

The CBOT was mostly lower in decidedly consolidative trade on Wednesday. Ag futures seem to be bumping up against key support levels where end-users are extending purchases. Short sellers seem to be mostly absent the market amid South American weather concerns and expectations that USDA will offer a neutral/bullish WASDE report next week. Funds are thought to have been net sellers today, liquidating some 12,000 contracts of corn, 5,000 contracts of soybeans, and 6,000 contracts of wheat. Fundamental news was light today, which helped keep the CBOT in well-defined ranges.  The Argentine weather forecast remains concerning for the country’s late-planted corn crop with the latest GFS model showing dryness extending into and past 15...

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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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