World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: Macro Risk-Off Trade Pressures CBOT

The CBOT was lower to start the week with widespread “risk off” trade taking place in light of weaker macro markets. U.S. and world stocks were sharply lower as China’s largest property developer, Evergrande, is in the middle of a debt crisis and missed payments this morning, placing the firm in default. The company’s stock price fell 10.2 percent and pushed the Hang Seng index to its lowest value since the peak of the 2020 COVID-19 panic/crisis. Asian losses spilled over into European and American markets and the CBOT was not immune from the macro-related selling.  Looking forward, the Chinese government is expected to step in and intervene in the Evergrande crisis after the country returns from its Autumn Fes...

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livestock

Cattle on Feed

Cattle and calves on feed for the slaughter market in the U.S. was 1 percent below October 1, 2020.  Placements in feedlots during September totaled 2.16 million head, 3 percent below 2020.  Marketings of fed cattle during September totaled 1.79 million head, 3 percent below 2020. Oth...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Rallies on ADM Delivery Receipt Cancellation; Soy Complex Under Pressure

The CBOT was mixed to end the week with wheat surging to new highs and helping put a bid under corn futures as well. The soy complex was weaker due to soyoil, which was pulled lower after Malaysian palm oil futures posted a huge reversal Thursday.  The biggest reason for the KCBT rally was...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

livestock

Cattle on Feed

Cattle and calves on feed for the slaughter market in the U.S. was 1 percent below October 1, 2020.  Placements in feedlots during September totaled 2.16 million head, 3 percent below 2020.  Marketings of fed cattle during September totaled 1.79 million head, 3 percent below 2020. Oth...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Rallies on ADM Delivery Receipt Cancellation; Soy Complex Under Pressure

The CBOT was mixed to end the week with wheat surging to new highs and helping put a bid under corn futures as well. The soy complex was weaker due to soyoil, which was pulled lower after Malaysian palm oil futures posted a huge reversal Thursday.  The biggest reason for the KCBT rally was...

feed-grains wheat soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

livestock

Cattle on Feed: Surprise (Kind of, but Not Really) on Placements

USDA released its monthly Cattle on Feed report today showing a total inventory of cattle and calves in feed yards of 11.6 million head on 1 October. That was in-line with pre-report expectations and is the second highest October inventory on record – last year was the highest. Marketings...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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