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Recap: Pre-WASDE Expectations

Once more, here are the advertised expectations for tomorrow's November WASDE.   Some expectations include lower yield and production estimates, and harvested acreage.   Industry analysts expects the USDA to cut corn exports given the slow pace and stiff competition from other origins.   Friday's numbers will include updated harvest estimates for spring wheat and durum from several northern states impacted by adverse harvest weather.   In the past five years, the Nov. WASDE has been bearish for corn and bean prices, but traders are hoping a late harvest and crop damage may buck that trend.   U.S. PRODUCTION (Million Bushels) 2019-20                ...

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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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