May 26 Corn closed at $4.43/bushel, up $0.0275 from yesterday's close. May 26 Wheat closed at $5.92/bushel, up $0.0975 from yesterday's close. May 26 Soybeans closed at $11.58/bushel, down $0.0425 from yesterday's close. May 26 Soymeal closed at $329.7/short ton, down $2.2 from yesterday's close. May 26 Soyoil closed at 66.44 cents/lb down 0.06 cents from yesterday's close. Jun 26 Live Cattle closed at $251.425/cwt up $2.9 from yesterday's close. May 26 Feeder Cattle closed at $374.85/cwt up $2.025 from yesterday's close. Jun 26 Lean Hogs closed at $102.45/cwt down $0.675 from yesterday's close. May 26 WTI Crude Oil closed at $92.29/barrel down $6.79 from yesterday's close. ...
Macro: Relief Meets Reality July’s CPI report matched expectations. Headline inflation eased to 3.4 percent year over year, while core inflation declined to 2.5 percent. On a monthly basis, headline CPI rose 0.1 percent and core increased 0.2 percent. Equities and the U.S. dollar traded h...
One of the curious developments from the August WASDE was USDA’s handling of the European, Russian, and Ukrainian corn and wheat balance sheets. The EU has battled significant drought and heat this year, while Russia and Ukraine are increasingly locked in a battle for control over the Bla...
Key Takeaways: Corn yield came in below expectations at 180.7 bushels per acre, validating WPI’s view that last year’s exceptional yield may have anchored analyst estimates higher. Despite slightly higher production for corn, stronger export projections tightened the balance sheet,...
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.