Today’s futures trade was quiet with low volume, just as one might expect on the day prior to an important report from USDA. In fact, nearly all of today’s price movement occurred during the first hour of trading. General Comments Today’s futures trade was quiet with low volume, just as one might expect on the day prior to an important report from USDA. Grain and soy prices worked a bit lower in light volume overnight and continued in the red throughout the day session. In fact, nearly all of today’s price movement occurred during the first hour of trading. At that point, the day session could well have closed with prices about the same as at the actual finish. We doubt that many traders would have cared. With the pace of the soybean and...
What You Need to Know Today: The U.S. conducted “self-defense strikes” in Iran and said the two sides are “close” to negotiating a ceasefire. “Close” is a relative term, however, and even if 95 percent of the terms are agreed to, the remaining 5 percent is l...
As we reported on 19 May, China has also committed to the resumption of U.S. poultry imports from states without confirmed HPAI detections. USDA’s Animal and Plant Health Inspection Service (APHIS) has updated its China export restrictions webpage to reflect that China has lifted HPAI-rel...
Key Takeaways: Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is e...
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.