THE OPEN July beans: 10 lower July meal: 1.10 lower July soyoil: 230 pts lower Julu corn: 9 lower July wheat: 7 1/2 lower The markets opened lower and continued to sell-off on weaker technical considerations, more rains across northern portions of the country, and sharply lower palm oil prices that pressured soyoil futures. Overnight rains across the Dakotas were actually better than expected with widespread coverage of 1/4 to 1" with some 2" rains thrown in. Next week will turn hotter and drier, but wetter conditions combined with a disappointing bean WASDE and lower soyoil, was enough to find some bull traders evening up. Bearish political headlines provided a negative side-show,...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
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.