THE OPEN July beans: 12 higher July meal: 1.40 higher July soyoil: 50 higher July corn: 5 higher July wheat: 5 higher The markets opened higher with prices responding more to technical support and resistance levels, with more open short-covering in corn, and a continuation of higher oilshare. Beans opened higher, but buyers were not chasing a rally given the push to contract lows this week. Still, shorts were put on notice after it was reported in news wires that China could be preparing to purchase an estimated 10 mmt of beans, 20 mmt of corn, 2 mmt of soyoil, and 1 mmt of cotton in an effort to shore up its reserves. Market strength was met with some skepticism, as traders were not wil...
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.