General Comments Grain and soy futures traded higher overnight, and they tried to maintain that momentum today. It worked for a time, but the momentum was not strong enough to overcome technical weakness and some continued fund liquidation. By late morning corn and wheat turned down, and soybeans followed late in the session. Corn and soybeans finished with very small gains, but wheat was mixed. CME wheat closed mostly lower by fractions while KC wheat posted tiny gains. As Turnaround Tuesdays go, today's price action was pretty pale. In fact, it hardly qualifies as a turnaround, and it certainly does not provide much enthusiasm for the overnight session.The grain and soy markets largely ignored any positive vibes from outside markets. S...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.