GOOD MORNING, Prices started the night on the defensive, with wheat at trading range lows and other markets in recent ranges. Wheat is lower as world values are trending weaker, and Egypt continues to state that its strategic reserves are enough to last through the end of June. Egypt also states that they have 4 months coverage of vegoil supply. Nonetheless, soyoil futures are higher again, with oilshare firming to start the week. Beans are mixed as South American weather is more cooperative over the last few weeks, bringing more confidence that crop production will stabilize from here. Brazil's Safras Mercado forecast the soy harvest pace at 59.5% vs. 45.7% week ago, but that is lagging year ago by 8.9%. The...
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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.