General Comments Overnight trade in grains and the soy complex began with mixed results. Corn and wheat seemed to want to move lower, but the continued chart-related strength of soybeans pulled them to the plus side. No one disputes that the market needs to restrain export and domestic demand for U.S. soybeans, but what corn and wheat supply and demand fundamentals mean for the futures market just now is not clear. Additionally, the corn market failed to penetrate upside resistance, causing that market to lose favor among technically oriented fund managers. These factors, or perhaps lack of factors, led to what we might call hesitant trading in the absence of fundamental or technical direction.The overnight session became a prologue for...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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.