THE OPEN November beans: 7 lower December meal: 2.20 higher December soyoil: 88 lower December corn: 12 1/2 lower December wheat: 9 1/2 lower Prices opened as called but this being month's end, quarter-end and report day brought about further price liquidation. All markets turned lower at the open led by soyoil and corn, which has the largest length and therefore saw the most weakness. The daily price limits are 40c for corn, 45c for wheat, $1.00 for beans, $30 for meal, and 350 pts for soyoil. Funds entered the report long about 60K bean contracts, 229K corn, 7K meal, 50K soyoil, and short 21K wheat. Acres were up 6 out of the last 10 years for these reports. The USDA repor...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.