GOOD MORNING, Prices are mixed this morning, with oilshare weaker and wheat prices firmer but closing on trading range lows. Rumors of business have been swirling for wheat, and the market has been well bid for much of the week. Soyoil futures are lower, along with crude oil and palm oil. Meal remains steady / better, and bean prices are lower. More results from the Pro Farmer crop tour roll in, with results from Iowa and Minnesota. The tour found the Iowa corn yield to be 177.8 bpa vs. 182.8 year ago, and 183.6 bpa average. Bean pod counts were 1,146 pods vs. 1,107 pods year ago, and 1,136 pods average. Minnesota corn yield was 196.1 bpa vs. 170.4 bpa year ago, and 180.2 bpa average...
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.