GOOD MORNING, Prices are mixed today with beans into new lows and soyoil weak, but grain prices firming. Shorts and end-users are attempting to lock in profits as funds continue to liquidate a portion of their length. Liquidation could be in part due to the bearishness of the June 30 Acreage report, as many private estimates trend higher. The break in prices is factoring in corn acreage that could be 2-3 mln acres higher, and bean acres up 500,00-800,000 acres. A slightly improved weather outlook contributes to a lower trend. Basis levels remain steady to firm, and farmers are well above the market. World cash markets remain firm. Corn: China's markets remain firm with dome...
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.