GOOD MORNING, Prices are higher heading into the open. July futures expire today as noontime, and July corn placed a new contract high for the week at $7.50 1/2. Oilshare continues firm and wheat is trying to find its footing. Buyers were not enticed by wheat's price action so far, though Egypt came in overnight for September delivery with Romania the lowest offer so far. Wheat is higher today and now shows more chance of seeing upside follow-through. Soyoil futures pull back a bit on a correction in canola, though higher palm oil contracts have been supportive. Prices are congesting now post report in trading range activity. Beans are building on gains this week, following soyoil trade. Spr...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
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.