The missing USDA reports due to the government shutdown receive all of the attention, but the Commodity Futures Trading Commission’s (CFTC’s) weekly Commitment of Traders (COT) report is among the missing as well. The last one was issued on 21 December with futures position data of 18 December. There has been quite a bit of fund activity in the last four weeks, but trying to follow it without the weekly COT involves much guesswork. As of 12 December, funds were long near 130,000 corn contracts. As a pure guess, they have probably liquidated about 50,000 contracts since then, and we guess funds are short relatively small amounts of soybeans and Chicago wheat. During the overnight session, grain and soy prices bounced to recover...
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.