The CBOT was mixed on Tuesday with corn and wheat firming with increased short covering and buying interest amid oversold technical conditions and recent selloff lows. Growing concerns about Russia’s refusal to allow grain export vessels into one Ukrainian port also helped put a bid under grains for the day. Despite stronger grain markets the oilseed complex pushed lower in lackluster trade amid expectations for a record-breaking 2023 U.S. crop combined with current and expected export pressure from Brazil. Weaker macro markets also worked against the soy complex with market jitters over the debt ceiling negotiations adding to risk-off trade volume. Funds were strong net sellers again in the soy complex and are thought to be flat soyb...
What You Need to Know Today: U.S. naval escorts through the Strait of Hormuz and renewed Iranian attacks on vessels and UAE infrastructure are sustaining geopolitical risk across energy and commodity markets Broad profit taking and weaker crude oil triggered a pullback across grains, signaling...
The House Energy and Commerce Subcommittee on Health held a hearing on legislative proposals concerning food regulation and oversight. The hearing was focused on a wide range of bills, in keeping with the Make America Healthy Again (MAHA) agenda, ranging from anti–plant-based dairy produc...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt and Algeria, in addition to Israel, are being monitored by Ukraine as possible destinations for grain taken by Russia from occupied Ukrainian regions. In April, Egypt had said that it would “stop accepting such shipmen...
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.