GOOD MORNING, Prices opened higher across the board on crop progress numbers. Markets may be oversold and due for a bounce. Ratings were a bit of a surprise, under trade expectations and friendly for the market. This report runs contrary to bearish comments from the Pro Farmer crop tour. There continues to be rumors that China is around the bean and the corn market on recent weakness. US corn and beans are the cheapest. US wheat remains at a premium to other global origins. Global wheat offers continue to rise. Export inspections were good for wheat, but low end for corn and beans. Bean exports are now at 2.163 bln bu vs. USDA at 2.260 bln bu, with one cargo out of the Gulf...
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.