It was another day of very narrow trading ranges for corn, wheat and the soy complex with volume more normal or average. Heading into today, managed money was reported as short 330 million bushels of wheat, 455 million bushels of corn and 185 million bushels of soybeans. General Comments U.S. markets will be closed Monday, 15 February for the Presidents Day holiday, and trading will reopen that evening. Based on the week’s market action, we probably won’t miss very much. Actually, the grain and oilseeds markets held their ground quite well this week, considering the extreme volatility still occurring in energy and financial markets. Trading volume was big in the agricultural markets, but price movement was limited. As we wrote earlier in...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
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.