Crude oil was soaring today with gains of more than $2.00 a barrel, and that set the tone for everything else. However, corn couldn’t follow wheat or soybeans higher today until some late buying at the close. General Comments Crude oil was soaring today with gains of more than $2.00 a barrel, and that set the tone for everything else. The strength in crude was the result of perceptions that the world’s economic growth could be better than expected. There was also renewed optimism that some sort of production cap agreement will be reached at the Doha meeting on 17 April. U.S. equity markets followed crude oil higher with big gains early, but those turned into small gains by midday.Grain and oilseed markets were mixed overnight with soybean...
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.