KC and Chicago wheat futures traded steady to slightly higher much of the session with Mpls under slight pressure. Today was also first notice day for deliveries against the March contracts. General Comments Happy Leap Year Day! Markets felt like they should only happen once every four years today as they were stunningly peaceful. Crude oil was up nearly $1 a barrel all day, but that didn’t prompt any month-end excitement in any market. U.S. financial markets held on to .1-.2 percent gains until they tuned lower after the noon hour and weakened further into the close. Corn and soybean futures were 2-3 lower most of the session with wheat markets steady. The U.S. dollar was just firm. Trading volume was ordinary.Today was first notice day...
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.