THE OPEN May beans: 1 1/4 higher May meal: 2.30 lower May soyoil: steady May corn: 3 higher July wheat: 2 1/2 higher Prices opened as called with soyoil prices turning to trade both sides of even as crude oil trades lower after the open. Wheat prices surged higher as the increase for US four demand increases, and US millers ramp up to full capacity as US citizens shelter in place. Stocks rallied after the open as the White House and Congress agreed on a $2 trillion emergency bill to rush aid to businesses, workers, and a health care system slammed by the Covid-19 virus. Grains gained on the soy complex as buy wheat/sell corn and bean trade continued for most of the trading session...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.