THE OPEN November beans: 6 1/4 lower December meal: 2.50 lower December soyoil: 1 lower December corn: 2 lower September wheat: a5 higher The markets opened as expected with more pressure in corn and beans, and more short-covering buying interest in wheat and soyoil. After a very brief time-out, soyoil futures resumed a higher trade based mostly off positive chart technicals. Crop production continued to weigh on the market throughout the session. Traders returned to buying wheat/selling corn, while taking profits on recent buy bean/sell corn trade. SOY The major feature in the soy complex was that of higher oilshare. December soyoil prices continued to congest...
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.