SPREADS Dec crush trades to 1.14c with oilshare firmer at 46.23%. The Sep/Dec corn spread found some firming and buying interest at the 5c carry level, trading into even. Not hard to imagine that with Brazil out of the export picture that this spread may be firmer in the future. Dec/March corn carry trades from 7 1/4c to 7 1/2c. Sep/Dec wheat trades out to 15c carry. Dec wheat/corn trades from 1.88c to 1.90c. Sep/Nov bean inverse finds some support after selling off to 2 3/4c, trading back to 4 3/4c. Nov/March bean spread widens out to 5 1/4c carry from 4c. Sep/Dec meal trades from $1.80 to $2.00. PALM OIL October up 25 ringgits at 4,263 ringgit/mt. NEWS Stocks continue weak a...
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.