GOOD MORNING, Prices are mixed, with the major feature that of higher soyoil which in turn is supporting the bean market. Corn follows stronger beans. The soyoil futures market is piggy-backing off of sharply higher palm oil prices. Beans are gaining upside traction from chart based positive technical activity and higher soyoil. The oilshare trade is resurrected. Buy wheat/sell corn appears to be also having an adjustment. Buy beans/sell corn also is a fan-favorite, as China appears to be more active in the market and making inquiries. Each market is responding to its own fundamentals. For beans, it is China business, perhaps for the PNW. China has imported 83 mmt of beans...
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.