THE OPEN July beans: 5 lower July meal: 3.00 lower July soyoil: 29 lower July corn: 3 lower July wheat: 10 lower The markets opened as called but weaker technicals continued to invite more profit-taking and still lower values shortly after the open. The difference today was that commercials were there to get more coverage as the break found levels near key benchmarks. Oilshare finally found some profit-taking, while bean spreads were weaker. A Bloomberg story was released that talked about China limiting some corn imports and cancelling several US corn cargoes, topics discussed and certainly factored into recent lower price action. SOY The soy complex highlights included minor pr...
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.