THE OPEN Nov beans: 3 lower Dec meal: .20 lower Dec soyoil: 5 lower Dec corn: 1 lower Dec wheat: 1/2 lower The markets opened lower on a cautious air as headlines from China to the EPA can hit anytime and send prices in the opposite direction. Traders are watching outside markets closely, as the Swiss National Bank President Thomas Jordan said policy makers are watching for possible fallout from China's Evergrande group. Would note that more of the more volatility is coming from cryptocurrencies, even as China announces trading them is illegal. Evergrande was unable to make a payment yesterday moving them into a window of 30 pays to make payment before heading into default. China is pum...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt Grain Situation Recap: Wheat stocks in Egypt are at good levels, with only limited import interest. However, there is some concern over the supply of wheat from the Black Sea later in the year due to current weather problem...
Beef packer margins deteriorated to -$218/head last week, down $20 from the prior week as a softer Choice cutout combined with slightly lower fed cattle prices. The cutout slipped to $391/cwt while fed cattle prices eased to $256/cwt, leaving packer profits under pressure. Margins remain deeply...
What You Need to Know Today: The U.S. and Iran agreed to a peace deal on Monday with the deal expected to be signed Friday in Switzerland. The memorandum signed is explicit that Iran will allow 60 days of toll-free transit for all traffic through the Strait of Hormuz, and President Trump annou...
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.