GOOD MORNING, Ag prices are mixed this morning, but the real action is in the stock market which is sharply higher on positive vaccine news and investors breathing a sigh of relief that an election victory was declared in the US. In terms of the vaccine, Pfizer said that data showed the vaccine shots could be 90% effective at preventing Covid-19, indicating that the company is on track this month to file an emergency application with US regulators. Ag futures firmed on macro strength, suggesting this would be a day of across-the-board risk-on buying day. Beans and soyoil futures score new highs when the stock market popped, while grains and meal stay confined to previous trading range activity. The Nove...
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.