Except for the red-hot soyoil market, the CBOT was mostly lower on Monday, with favorable South American weather and pre-WASDE position adjustment driving the day’s mentality. Corn, wheat, and soybeans all settled slightly lower Monday in either consolidative trade or a continuation of chart and technical weakness that began last week. Traders were unwilling to expand long risks amid abundant global grain supplies, Brazil’s massive soybean crop, and uncertainty as to how USDA will handle China’s supposed 8 MMT of additional U.S. soybean purchases, which contributed to the lower trade. Cattle markets saw firm trade despite news of a higher TRQ for Argentine beef imports while hog futures saw a day of mixed and spread-influe...
What You Need to Know Today: Iran says its definition of the Strait of Hormuz is now a “vast operation area” that stretches from Jask to Siri Island. The White House said President Trump did not sign a suspension of the TRQs on beef imports but is “finalizing potential...
If the media headlines and Trump critics are to be believed, President Trump is headed to Beijing this Thursday in a weakened position. China is in control, it has the upper hand, and expectations are very low. These are the same critics that argue against overly simplistic zero-sum analyses in...
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.