GOOD MORNING, Prices continue to be well bid nearing the end of 2019. First notice day for Jan contracts is tomorrow, and there are 1,194 bean receipts registered, 2,613 soyoil, and 1,410 meal. The market will be closed 1 Jan., Wed., for New Year’s Day with a hard open on Thursday. Reports will continue to play catch-up. Export sales from last week were released on Friday, which were disappointing for beans and corn, but good for soyoil and wheat. Meal sales were also low end, which continued to send that market to the lowest end of its trading range while soyoil still catches fire to the upside. Some panic-buying of soyoil is keeping the market well supported, with palm oil at 3-year...
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.