General Comments Markets leaked lower overnight, this time led by weakness in the soy complex. It was first notice day for deliveries against the December contracts, and those deliveries were heavier than expected: 2,200 contracts of soybean oil were delivered as well as 2,119 contracts of wheat and 246 contracts of corn. There were no soybean meal deliveries.It was also the last day of November, and that apparently led to profit-taking selling following the recent rallies in wheat, corn and soybeans. That selling escalated after the open outcry session started, with wheat and soybeans seeing sharp losses by midmorning.Outside market factors were neutral with crude oil slightly higher, the dollar about unchanged and financial markets just...
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.