THE OPEN Nov beans: 8 lower Dec meal: 1.00 lower Dec soyoil: 50 lower Dec corn: 3 lower Dec wheat: 12 lower The market opened weaker and printed new lows before finding some pricing, bargain hunting into the report, and more short-covering. Corn prices reversed higher from lower while soyoil and wheat prices labored. The acreage numbers, which were released early, weighed on futures in the PM session with follow-through negativity for the day. Some analysts theorize that the acres could actually grow a bit once all farms report. Brazil's CONAB trimmed its estimate for the countries' total corn and bean crops in its final report. CONAB reported that farmers produced a record 135.9...
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.