Corn was steady to 1-2 higher much of the session in trading volume that was something less than half of normal levels ahead of the long weekend. China will apparently try to auction off another 3.5 MMT of reserve corn on 29 May. General Comments Soybeans were again firm through much of the night session following Thursday's strength as wheat and corn showed little movement. Overnight volume was very light. Markets started higher this morning with soybeans leading the way, but that strength quickly subsided, and markets turned slightly lower in the first half hour of trade. Trading volume today was very light.This is the first long holiday of the summer in the U.S. with markets closed until 7 PM (CDT) Monday evening. Monday is Memorial Da...
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.