GOOD MORNING, Prices are lower with the last few hours of trade becoming more defensive, though soyoil posts another new contract high at the beginning of the evening session while wheat breaks down. Some ideas are that wheat held up against winterkill better than expected. Beans continue to trend sideways as rallies are capped off by more competitive Brazil prices and what may be a more bearish Outlook Forum report on Friday. The all-virtual Agricultural Outlook Forum will release estimates for 21/22 US corn, wheat, and bean supply and demand using 10-year baseline projections and trendline yields. Ideas are for higher corn, bean, and wheat acres sparked by recent price rallies and that will provide some resistance...
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.