The CBOT reversed much of its recent weakness on Thursday with technical trade and “bottom picking” emerging in the soy complex. The soy complex was not oversold technically, but with values sitting on or near major support levels, many traders figured this was the time to take short risk off the table. That created a technical bounce across the soy complex that spilled over into corn, with the former market also receiving a boost from a “flash” export sales announcement. Wheat, however, was the laggard of the day’s trade with the surging U.S. dollar weighing on values. Livestock markets joined wheat with more bearish trade as cattle traders pare long positions back ahead of Friday’s fundamental reports. Overall, the day’s trade seemed to s...
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.