GOOD MORNING, Prices this morning are firmer with gains in the soy complex but grains treading water. The nearby corn spreads have moved out to a carry, with the Dec/March trading to new lows as cash is weaker. Wheat futures are in a trading range but showing some empathy for the downside. By contrast, the bean market seems to be stabilizing grains, with prices moving back towards recent highs. Soyoil futures are higher after a strong palm oil performance. The November USDA report will be released on the 10th, and ahead of the numbers come the flow of estimates: Markit group forecasts 2020 corn production at 14.502 bln bu, with yield at 175.7 bpa. They forecast bean production at 4.183 bln vs. US...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
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.