GOOD MORNING, Prices opened on a mixed note overnight, higher beans and wheat, lower corn. Weather is wide open for harvest. Soyoil futures opened lower vs. meal, and the EPA did not publish any biofuel mandate guidance as rumored last Friday. Beans continue to have a bid currently, as there is simply more chatter that China has been in the market actively purchasing despite a lack of export sales last week. The big event of the week will be the Sep. Quarterly Stocks report due out on Thursday, and expect more position - squaring into the numbers. Here are the average advertised guesses for Sep. 1 stocks: beans: 0.174 bln bu corn: 1.153 bln bu wheat: 1.855 bln bu Outsid...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap: Wheat stocks in Egypt are at good levels, with only limited import interest. However, there is some concern over the supply of wheat from the Black Sea later in the year due to current weather problem...
Beef packer margins deteriorated to -$218/head last week, down $20 from the prior week as a softer Choice cutout combined with slightly lower fed cattle prices. The cutout slipped to $391/cwt while fed cattle prices eased to $256/cwt, leaving packer profits under pressure. Margins remain deeply...
What You Need to Know Today: The U.S. and Iran agreed to a peace deal on Monday with the deal expected to be signed Friday in Switzerland. The memorandum signed is explicit that Iran will allow 60 days of toll-free transit for all traffic through the Strait of Hormuz, and President Trump annou...
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.