THE OPEN July beans: 1 higher July meal: .40 higher July soyoil: 2 lower July corn: 1 1/4 lower July wheat: 5 1/2 lower The board opened today with an air of caution and mostly quiet activity as traders prepared for what the USDA would have to say at 11:00 central time. The expectation for a bearish corn report spilled over into beans despite an opening sale to China. Production projections for corn were based off the March Prospective Plantings and acreage expectations. That acreage was put at 96.99 mln for corn, using a 2020 yield of 178.5 bpa, and production at 15.9 bln bu. Over the last twenty years, the final planted corn acreage decreased over 3 mln acres only once from March inten...
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.