The CBOT ended the week on a bearish note with corn, soybeans, and wheat all in the red with light fund selling pressure and profit taking. For corn and soybeans, the pressure came mostly from forecasts of cooler, wetter conditions for most of the Midwest that will aid crop conditions and growth this week and next. The market will be closely watching Monday’s Crop Conditions report to see if the recent rains will offer more improvement than last week’s paltry 1 percent uptick in corn ratings. For wheat, the day’s pressure seemed to come from slow early-season exports and competition from Russia, never mind the weather threats to the U.S. HRW and HRS crops. Overall, the day’s trade did little to shake markets from the...
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.