THE OPEN November beans: 7 lower December meal: 1.40 lower December soyoil: 15 higher December corn: 3/4 lower December wheat: 6 higher The markets opened with new highs in wheat helping corn to stabilize, with soyoil futures firmer than expected. Oilshare returns as a leader. Stories of conflicts with the Phase one deal weigh on beans and corn. US trade reps (USTR) will give a speech regarding the Phase One trade deal, which could include adding more tariffs to China for not complying with the terms. There is an OPEC meeting today as well which seems to be adding to crude oil volatility. Macros weigh heavily at midday, as the Dow drops 300 pts. which seems to take ags off...
What You Need to Know Today: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
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.