The CBOT opened higher but found profit taking and farm cash/hedging sales that pushed markets off the day’s highs. The soy complex was once again the upside leader with soyoil and soybeans being the strongest legs of the crush. Buy soy/sell wheat or corn spread trades were also active today, which kept the grain markets on the defensive. Heading into the November WASDE next Tuesday, there was noted position-squaring as well. The USDA issued its semi-annual baseline projections this afternoon, which also includes an early look at the next year’s acreage forecasts. The agency expects 2021/22 corn acres to total 90.0 million acres, below WPI’s October forecast of 96.2 million acres. USDA’s 2021/22 soybean planted area...
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.