Overnight trade in grain and soy futures featured higher prices and modest volume. Soybeans were the leader with the November contract up about 7.5 cents. The grains were higher but more timidly so. Chicago wheat was up about 4 cents, and corn’s gains were limited to fractions. Trading volume was also limited during the day session. Soybeans continued to trade green numbers based on short covering and technical considerations with November trading above $8.50 resistance. As the day session ended, however, the best soybeans could do was to close with November exactly at $8.50, a 4.25 cent gain. We suppose this can be viewed as a technical draw. Soy products were firm with meal $0.80-1.70 higher and soyoil up 11-15 points. Wheat future...
What You Need to Know Today: Corn and soybean crop ratings declined late Monday and set the stage for stronger CBOT trade Tuesday. Funds are in risk-on mode across the ag space, resulting in firm trade and solid gains for grains and oilseeds. Iran and Oman released a joint statement saying the...
Today, Canada announced retaliatory tariffs on 700 products exported from the U.S., aiming to match “dollar for dollar” the duties imposed on Canada. They will take effect on 8 September (see the complete list here). 50 percent tariffs: steel, aluminum, furniture, clothing, video g...
Key Takeaways: Despite its limited farmland, the Netherlands is a major agricultural exporter, focusing on high-value products such as dairy, flowers, meat, and vegetables. The Port of Rotterdam makes the Netherlands a major European agricultural trade hub, supporting significant processing an...
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.