THE OPEN March beans: 1 1/2 lower March meal: .10 lower March soyoil: 3 lower March corn: steady March wheat: 2 higher Prices opened as expected with further strength in wheat, which put in a new trading range high after the bell. Light profit-taking was noted in oilshare, with fund selling in corn. Weaker energies weighed on soyoil and corn, which pressured price action into the January WASDE. As was the price pattern in 2019, corn prices did tend to drift to new lows before major reports, keeping the same trading range pattern into 2020. On the news front, White House Adviser Kudlow stated that the trade deal was still on for completion on Jan. 15. At 11:00 th...
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.