Poor technical performance and a proclivity towards profit taking on Fridays capped an early CBOT rally. The markets traded higher overnight with worrisome Brazilian weather forecasts pushing January soybeans near the $12.00 mark. Weaker palm oil futures weighed on the soyoil market and profit taking developed as the December contract passed 39.25. The turn lower in soyoil sparked profit taking in soybeans and corn, though the latter commodity found strong scale-down commercial pricing. Except for the hook reversal in soyoil, today’s price action did little to change the overall direction for the major CBOT commodities. Funds are thought to have been modest net buyers of corn and soybeans while adding some 3,500 contracts of wh...
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.