THE OPEN May beans: 16 higher May meal: 5.70 higher May soyoil: 24 higher May corn: 1 lower May wheat: 3 higher The markets opened as called with weaker grains following the soy complex in its opening rally high. Prices broke lower on the day in reversal trade, with major levels of support tested after a strong open. Buy bean/sell corn and wheat trade was the feature, while meal briefly gained on soyoil. Negative seasonals and fund liquidation weighed on price action. As we approach the March 9 WASDE report, would look for more guesses for SA acreage as well as US estimates. FC Stone forecast the bean crop in Brazil at 133.48 mmt, vs. 132.77 mmt last month. They foreca...
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.