GOOD MORNING, Prices were higher yesterday post report, with follow-through activity this morning. Breaking it all down we find the following: Corn: Sep. 1 stocks at 1995 mbu was 225 mbu below the average trade guess, and 258 mbu below the Sep. WASDE carryout est at 2253 mbu. Final 2019 corn production was raised by only 3 mbu to 13.6 bbu, with yield at 167.5 bpa. Implied Q4 feeding was estimated at 933 mbu vs. 912 mbu year ago. 19/20 corn feeding was 5861 mbu vs. current USDA at 5600 mbu. Feeding in the Oct. WASDE could be higher as a result of the Sep. 1 stocks report. Beans: Sep.1 bean stocks at 523 was 53 mbu below the average trade guess, and 52 mbu below the Sep. WAS...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
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.