World Perspectives
feed-grains soy-oilseeds wheat

Smile! Large Upside Volatility in Corn Futures

In the latest sequence of WPI’s weekly Smile! report, the biggest change is a massive increase in upside volatility for corn futures while soybean and wheat futures are more neutrally positioned. For background on the methodology used in this analysis, check out this article. Again, the goal of this weekly publication is to give you a quick view of how the market perceives price risk over the near term. We also include last week’s charts, so you can see how the risk has shifted week-to-week.  Here are this week’s charts:  Corn Despite the USDA’s bearish WASDE, options traders are positioning for higher corn prices. Open interest (OI) is overwhelmingly higher in OTM calls than puts with a put/ca...

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USDA Receives Funding and Congressional Directives

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feed-grains soy-oilseeds wheat

Market Commentary

Corn and soybean markets were just slightly firmer overnight with wheat slightly lower following yesterday’s fund-related sell-off. Today then saw corn and soybeans trading slightly lower with wheat getting hit fairly hard most of the morning. Wheat is again in a very weak technical posit...

China Naysayers; Liberalization Woke

China Naysayers As Washington and Beijing work toward completing a trade deal, it is clear that not all the U.S. objectives will be accomplished to the satisfaction of critics. However, indications are that it will involve more than just the eye candy of some guaranteed product sales. Given Pre...

USDA Receives Funding and Congressional Directives

Today the president signed the appropriations bill that will cover the remainder of FY 2019 (through 30 September). The package was passed yesterday in the House and Senate by a vote of 300-128 and 86-13, respectively. It provides a compromise agreement on border security measures, but the pres...

feed-grains soy-oilseeds wheat

Market Commentary

Corn and soybean markets were just slightly firmer overnight with wheat slightly lower following yesterday’s fund-related sell-off. Today then saw corn and soybeans trading slightly lower with wheat getting hit fairly hard most of the morning. Wheat is again in a very weak technical posit...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 19 Corn closed at $3.7475/bushel, up $0 from yesterday's close.  Mar 19 Wheat closed at $5.0425/bushel, down $0.0275 from yesterday's close.  Mar 19 Soybeans closed at $9.075/bushel, up $0.04 from yesterday's close.  Mar 19 Soymeal closed at $306.5/short ton, up $1 from yeste...

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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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