GOOD MORNING, Prices were lower at the beginning of the PM session on further fund selling based on falling volumes and technical downside follow-through, but eventually worked higher led by soyoil. Canola prices close in on contract highs, and Egypt completed its soyoil tender, purchasing 30,000 mt. Record cold temperatures impacted logistics this week, and raised winterkill concerns regarding the wheat crop. Bean harvest remains late in Brazil, and there are questions about quality. There are also rumors that some bean sales may have been cancelled. On Thursday, the Agriculture Outlook Forum acreage numbers were lighter than expected, but still dealt the quiet market a bearish hand, with record combined corn and...
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.