General Comments Overnight trade in grains and the soy complex opened slightly lower, and then slightly edged above the previous closes. Volume was light. By the time the day session opened, traders had a chance to look at last week's export sales volumes. Sales of wheat and corn fell well below expectations, and this put a cap on prices throughout the day session's choppy price action. Soybean sales also fell below expectations, but the large volume of meal and soyoil sales made up for that. Traders knew that product sales would be big, but even so, the numbers looked pretty impressive.The preliminary estimate of the U.S. GDP for the third quarter showed that the economy grew 2.7 percent. This was the biggest jump since the fourth quart...
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.