World Perspectives
energy farm-inputs

Natural Gas and Fertilizer Outlook

With the cold weather season coming, natural gas storage is at long-term lows. The U.S. Energy Information Administration’s (EIA’s) October Short-Term Energy Outlook is forecasting natural gas inventories at 3,263 billion cubic feet (Bcf) by the end of the month. That would be the lowest end-of-October cumulative inventory since 2005. The drawdown is attributed to cold weather during the first half of the year.  Temperatures in April were the lowest for the month in more than 20 years, which delayed the natural storage gas refill season by about a month. That came after unusually large drawdowns in in a record-cold January, pushing storage to below the five-year average for most of the summer. Recent late season weekly...

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Summary of Futures

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Market Commentary: Bad Day for Wheat

It was a somewhat volatile open but there was one certainty – wheat was going down. Joined by soyoil. Lower wheat weighed on corn, which hung on for a small gain. The story remains one of better weather and not much else to talk about, except shipments of grain out of Ukraine are occurrin...

Western Currency Dominance

Western sanctions have bolstered interest by China and Russia in creating a third reserve currency to challenge the dollar and the euro. There is discussions of creating a BRICS (Brazil, Russia, India, China, South Africa) based basket currency similar to the IMF’s SDR’s. After all,...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 22 Corn closed at $6.12/bushel, up $0.0175 from yesterday's close.  Dec 22 Wheat closed at $7.805/bushel, down $0.2225 from yesterday's close.  Nov 22 Soybeans closed at $13.9/bushel, up $0.09 from yesterday's close.  Dec 22 Soymeal closed at $400.6/short ton, up $4.5 from ye...

feed-grains soy-oilseeds wheat

Market Commentary: Bad Day for Wheat

It was a somewhat volatile open but there was one certainty – wheat was going down. Joined by soyoil. Lower wheat weighed on corn, which hung on for a small gain. The story remains one of better weather and not much else to talk about, except shipments of grain out of Ukraine are occurrin...

Western Currency Dominance

Western sanctions have bolstered interest by China and Russia in creating a third reserve currency to challenge the dollar and the euro. There is discussions of creating a BRICS (Brazil, Russia, India, China, South Africa) based basket currency similar to the IMF’s SDR’s. After all,...

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Market Commentary: The Good and the Bad

Yesterday’s steep losses in the futures market was followed by a lower close overnight that fed today’s narrative for yet still more declines in the grain and oilseeds market. There was a brief showing of green in the wheat market about an hour into the session, but it wasn’t...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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