The CBOT was mostly flat in quiet trade to end the week with traders showing little concern for a weekend of hot, dry weather for most of the crop-growing U.S. Corn and soybeans managed to find their way to modest gains on short covering and some reaction to the weather, but wheat futures ended lower again after volatile trade and soymeal markets collapsed below technical support. Trading volume was relatively light for the day with few wanting to add risk heading into the long weekend. Next week’s trade will likely be heavily dependent on the crop conditions data, how the weekend weather develops, and what Monday night’s weather forecasts call for the coming week. WPI looks for corn and soybeans to remain supported by the weath...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.