GOOD MORNING, Prices were lower for most of the markets as crop progress ratings improved more than expected, and corn and beans entered a mostly negative time seasonal. Traders look to see if demand can shore up a bottom. Beans saw a 10th session of USDA announcements yesterday with spreads continuing to firm into new highs this AM. First notice day is Friday for August futures. There are 2,753 soyoil receipts, 511 meal, and zero beans. WEATHER Soaking rains moved across central Illinois, Indiana, and Ohio. Temperatures are cooler, below average for the end of July, which has proved to be a hot but wet month. Fields in North Dakota have too much rainfall while Nebraska...
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.