Jul 20 Corn closed at $3.1325/bushel, down $0.0975 from yesterday's close. Jul 20 Wheat closed at $5.2475/bushel, down $0.0575 from yesterday's close. Jul 20 Soybeans closed at $8.365/bushel, down $0.03 from yesterday's close. Jul 20 Soymeal closed at $291.5/short ton, down $1.1 from yesterday's close. Jul 20 Soyoil closed at 25.47 cents/lb down 0.03 cents from yesterday's close. Jun 20 Live Cattle closed at $84.05/cwt up $1.425 from yesterday's close. Aug 20 Feeder Cattle closed at $127.275/cwt up $0.875 from yesterday's close. Jun 20 Lean Hogs closed at $55.275/cwt up $3.75 from yesterday's close. Jun 20 WTI Crude Oil closed at $12.96/barrel down $3.98 from yesterday's close. ...
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.