THE OPEN Jan beans: 8 1/2 higher Dec meal: 1.30 higher Dec soyoil: 21 higher Dec corn: 3 3/4 higher Dec wheat: 3 higher The markets opened as called with prices printing new contract highs in beans with all other markets posting inside days of trade. Spreads were slightly firmer into the USDA report, with nearby corn and bean inverses strengthening. The focus before the report was on exports but that quickly changed to production and yields once the lower numbers were out. Prices continued to rally to new highs right into the 11:00 hour. At 11:00 the November WASDE was released and was bullish: USDA Grain Reports Flash 11/10 11:01 U.S. PRODUCTION (Million Bushels) 20...
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.