The CBOT was mostly lower to start the week with expectations of favorable planting progress in this afternoon’s Crop Progress report creating much of the pressure. Wheat was the big loser for the day with favorable weather in the major growing regions prompting a strong wave of selling from funds. Soybeans saw support in old crop markets from the biodiesel demand outlook, with traders hopeful the EPA will soon boost blending targets. Corn, for the day, was caught between the plunging wheat markets and mild support in soybeans and ended with a few pennies in losses after recovering from much larger declines. Funds were net sellers in grains but continued to expand long positions in livestock, soybeans, and soyoil. The weekly Exp...
What You Need to Know Today: Iran warned that it will retaliate against the U.S. if American strikes target Iranian infrastructure, as President Trump has threatened to do next week if negotiations between the two nations do not resume. President Trump is scheduled to deliver a primetime addre...
Turkeys for Thanksgiving are typically placed this month. Turkey production has suffered from HPAI and other diseases for the past two years, and placements are still down overall. However, at more than 34 pounds per bird, overall production is being supported by heavier weights and increased p...
Key Takeaways: Continued domestic demand for soyoil in the U.S. will drive prices higher and create a firmer outlook for global soybean values and crush margins. U.S. soyoil prices are set to increase 13-16 percent over the next four months as the domestic demand expansion takes hold. Th...
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.