CBOT markets were sideways/slightly higher to end the week as trading interest remained limited. Corn and soybeans finished with modest gains while the soyoil market posted a strong rally. Wheat futures traded a mixed day and finished fractionally lower. Overall, it was a day filled with position adjusting ahead of a weekend expected to see weather favorable for U.S. crop development. The weekend forecast includes above-average temperatures for nearly all the U.S., except parts of the West. Precipitation will occur for the very dry Southwest and extend into the Central and Northern Plains. The Corn Belt will receive meaningful rainfall as well. The combination of warm temperatures and good precipitation bodes well for corn pollinatio...
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.