GOOD MORNING, The theme of choppy March price action continues, as inverses remain under pressure. The exception to weakness is wheat and soyoil., the latter of which continues on a one-way path higher, but finally caves this morning to open weaker. China's Dalian vegoil futures traded sharply higher today, with palm oil higher as well. Meal makes a one month low on continued soyoil/meal trade. Early spread trade features buy wheat/sell corn and buy soyoil/sell meal. Beans will continue to respond to SA weather, and the latest production reports. While CONAB raised its Brazil bean production, Argentine production was lowered to 44.0 mmt by the BA Grain Exchange, (down 2 mmt). Argentina...
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.