There presently appears to be only one event that could cause aggressive price movement during the next three weeks: the threat related to wheat. General Comments Corn, wheat and the soy complex all spent today further carving out trading ranges into which to consolidate. Traders with established positions attempted to influence the charts and point March corn in a downward direction and March soybeans upward, but neither effort was convincing. Both look destined to expand a horizontal trading range as market participants wait for some more substantive news. There are impending news stories that could have modest influences on price action such as improved weather conditions in Brazil and, to a lesser degree, the release of long-term proj...
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.