GOOD MORNING, Prices continue to congest in trading ranges looking for different data, weather, or macro events to move them one way or the other. This morning, there are rumors, (not confirmed), that China purchased both bean and corn cargoes. The dominant direction remains lower for all, but we have arrived at positive seasonals, which may take longer to take shape given the demand destruction from Covid-19. Farmers are planting as fast as they can, and that will allow for prices to rally easier. Funds continue to dominate the corn picture with a steadfast 200K short. All other markets are nearly even as traders play it close to home. Bean prices are firmer this morning as more reports of Chines...
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.