The wheat craziness continued overnight with May, July, and Sept CBOT and May, July, Sept, Dec, and Mar 2023 KCBT all locked limit-up after the overnight session. The short covering rally is being continued partly because futures keep locking at the limit bid with no one interested in selling. You can’t exit a short position without a willing seller! Paris wheat futures scored a new all-time high of €392.50/MT as the world grain rally continues. The day session saw the CBOT trade both sides of unchanged with only May Chicago wheat holding to one particular trend (locking limit up). Financial firms are reportedly struggling to meet margin calls and exiting positions is difficult, especially in wheat. There are signs, however, that...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.