Jul 26 Corn closed at $4.1175/bushel, down $0.0725 from yesterday's close. Jul 26 Wheat closed at $5.8675/bushel, down $0.0075 from yesterday's close. Jul 26 Soybeans closed at $11.15/bushel, down $0.08 from yesterday's close. Jul 26 Soymeal closed at $301.7/short ton, down $0.2 from yesterday's close. Jul 26 Soyoil closed at 74.45 cents/lb down 0.88 cents from yesterday's close. Aug 26 Live Cattle closed at $242.675/cwt up $1.175 from yesterday's close. Aug 26 Feeder Cattle closed at $359.65/cwt up $5.275 from yesterday's close. Jul 26 Lean Hogs closed at $96.625/cwt down $0.225 from yesterday's close. Jul 26 WTI Crude Oil closed at $86.43/barrel down $3.6 from yesterday's close. ...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
Key Takeaways: Grain futures pulled back sharply in overnight trade Friday on rumors that Ukraine proposed two possible options for ensuring civilian vessel safety in the Black Sea. Both Russia and Ukraine have recently targeted civilian vessels carrying oil and grain in the Sea of Azov...
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.