It was a classic Turnaround Tuesday at the CBOT with yesterday’s weakness attracting end user demand. As WPI’s Jody Lefcourt noted earlier today, strong bull markets often have sharp pullbacks that find enough support to continue the rally. That trend appears to be working in the CBOT presently, though WPI continues to note that, with U.S. supplies determined now, bull markets will require continued positive demand-side news. China is rumored to still be in the U.S. markets and has reportedly booked a few vessels of soybeans from the PNW. The corn and soybean crops are all but completely mature as of USDA’s latest Crop Progress report, with 94 percent of U.S. corn rated mature and 93 percent of soybeans dropping lea...
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.