General Comments Overnight futures trade saw a modest bounce in grain and soybean prices following yesterday's open outcry session that saw corn, soybeans and wheat bounce well above session lows at the close. Additionally, there are signs that selling by funds and technical traders may have run its course, which removes the most persistent pressure on prices before and after last Friday's WASDE.The recovery, modest though it may be, continued during the day session. Helping sustain the market were some distinct signs that some demand has been stimulated by the recent price break. USDA reported a sale of 120,000 MT of soybeans to China as well as a sale of 40,000 MT of soybean oil to unknown destinations. Some are speculating that China...
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.