GOOD MORNING, Prices are mixed to begin the session with wheat contracts lower against the other markets. Bean and corn prices are steady on the upturn in crude market, and hopes that lower prices triggered more export business. Wheat is lower as rain across much of Europe and the Black Sea region eased drought conditions. Outside markets were higher on Wed. on reports that the experimental drug remdesivir could prove to be effective against the coronavirus. Crude oil rallied taking oilshare higher, and helping beans to put in recovery trade. Soyoil prices continue to climb this morning with beans higher as well. Spread trade continued to be a feature yesterday, as corn gains on wheat, and soyoil on me...
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.