GOOD MORNING, Prices were mixed with the grains firmer vs. the soy complex, but after export sales all rallied into the close. For bulls, the good news is that July and Dec corn are staying afloat at reversal levels of trade. Bull-spreads were weaker this morning but corn spreads strengthened. The domestic corn basis is slightly weaker, even in Iowa. Gulf corn values are steady. Issues: Bean prices remain steady with rumors that China is making inquiries about Oct/Nov beans. Spreads are attempting to firm, though July/Dec meal slips to a carry from an inverse. Crushing for soyoil makes too much meal, and China is displacing meal from its feed rations. China's negative crush margins s...
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.