Corn and wheat markets were lower and soybeans mixed in very light overnight trading volume ahead of this morning's USDA reports. In spite of a bearish new crop soybean outlook, the funds still refuse to let go of the old crop soybean market as big gains in the July contract held the November contract higher. General Comments Corn and wheat markets were lower and soybeans mixed in very light overnight trading volume ahead of this morning's USDA reports. Selling pressure increased in the corn and wheat markets as we approached the 12 PM (EDT) release time. There were few surprises in today's reports (detailed in a separate analysis). The markets viewed the corn numbers as bearish even though old crop ending supplies were reduced. Wheat was...
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.