The CBOT was higher overnight with continued worries about world wheat supplies and weather driving the markets. Wheat futures continued their upside run in early day trading and posted new contract highs before profit taking pushed the market lower and formed technical reversals on the charts. Corn followed the wheat market and scored a new rally high before ending slightly lower. Notably, March corn failed to hold its rally above $5.90 and closed below that level. The market has not been able to sustain a close above $5.90 since 2 July – one day before the market gapped 26 cents lower at the opening bell. The soy complex was mixed with technical selling and liquidation trade pushing soymeal lower while soyoil rallied and pulled back...
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.