GOOD MORNING, Prices overnight continue to trend lower for grains, while attempting to put in some stabilization trade for soyoil and beans. Outside markets are showing a recovery from yesterday's nose-dive, with crude up which is supporting soyoil futures. Beans are also seeing some stabilization as traders return to buy beans/sell corn trade. Activity in the Gulf continues to get on track. Yesterday's corn inspections at 403,104 mt was decent but behind the 768,000 a year ago, with China in for 140,245 mt. Bean loadings improved from 193 mt week ago, but vs. 1.391 mmt year ago. Wheat inspections were 563 mt vs. 567 mt week ago. Harvest continues with some chatter about disappointing yield...
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.