THE OPEN November beans: 4 higher December meal: 1.90 lower December soyoil: 37 higher December corn: steady September wheat: 7 3/4 lower Prices opened mixed with traders continuing to buy soyoil/sell meal, and buy corn/sell wheat. Beans were higher supported by stronger soyoil values. Soyoil continued to see support from higher crude, palm, and canola prices. Wheat futures traded At 10:00 export inspections were as follows: beans: 551,543 mt vs. 504,645 mt (vs. an expected 375-700,000 mt) corn: 716,127 mt vs. 840,796 mt (vs. an expected 700-1.15 mt) wheat: 500,110 mt vs. 544,010 mt (vs. an expected 450-675,000 mt) Inspections were neutral to bearish f...
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.