CBOT grains and livestock markets were mostly higher today with short covering the dominant theme in corn. Wheat futures sold off early in the day but found short covering support as well as some long buying interest in HRW futures while the soy complex was weaker for most of the day with soymeal unable to breach recent resistance. The U.S. weather forecast features cold temperatures for most of the East Coast and eastern portions of the Midwest through the weekend and into next week with a gradual warming trend developing thereafter. Precipitation will be a dominant feature this week and next that will slow planting progress for the Ohio Valley as well as the Dakotas/Minnesota/Wisconsin. The long term forecast into early summer feat...
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.