THE OPEN Jan beans: 1 lower Dec meal: .40 higher Dec soyoil: 22 lower Dec corn: 1/4 lower Dec wheat: 1/4 higher The markets opened as called but grains traded higher on the day on short-covering led by wheat futures first, with spill-over short-covering in corn. Dec soyoil prices continue to head lower on profit-taking following weaker palm oil prices. Bean prices broke to new lows on liquidation. Lower prices turned mixed as Trump addressed the Economic Club of New York, reiterating that the economy remains strong. He furthermore stated that a trade deal could happen soon based on a deal good for the whole of the country and its workers, but if the US is unable to make a deal with China then his ad...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
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.