GOOD MORNING, The markets are mixed this morning but mostly higher led by wheat. Wheat started its turn yesterday triggering buy-stops and reversing price direction and now continuing its run this morning. In terms of business, the Saudis are in for 595,000 mt of wheat for Nov/Jan, and it will be the first tender where the quality restraints are relaxed enough to allow Russian wheat to compete. Russian wheat quality is 84 percent milling vs. 74 percent year ago. Though US wheat prices have fallen, they are still above EU and Black Sea values. Beans are continuing to firm on good crush numbers and better export sales numbers, in which China continued to ship beans purchased earlier in the year.&nb...
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.