THE OPEN Nov beans: 7 1/4 lower Dec meal: 2.60 lower Dec soyoil: 13 lower Dec corn: 6 lower Dec wheat: 4 1/2 lower The markets opened as called with light profit-taking on both sides, which featured a bit of selling in corn and buying in beans. Bean charts opened close to trading range highs while Dec corn traveled to the middle of recent ranges. Good rains pressured the markets as the crops need rainfall due to the later planting season and recent dryness for the month of August. Prices congested into the 11:00 hour of trade. Market certainties centered more around demand, where traders saw the lack of a trade deal and world competition as feeding i...
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.