Given what was happening with soybeans and corn, today's price break by CME wheat seemed about in line, and KC HRW's losses actually appear rather modest. General Comments Grain and soy prices sank under the pressure of sustained selling by both commercials and non-commercials. Old crop soybeans led the way down and everything else followed. 1 May is the first day of the new system of daily limits, and July soybeans dropped 51.75 cents, or more than half of its $1.00 daily limit. The May soybean contract, which has no limit as it is current for deliveries, closed down 57.25 cents. The corn market was down, but not in quite the same spectacular fashion. Corn prices fell 8-12 cents with old crop contracts taking the biggest losses. CME SRW...
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.