GOOD MORNING, Prices took a turn lower as selling surfaced in Minneapolis wheat as rains crossed areas of Canada and the Great Lakes region. Minneapolis Sep. wheat travels 60c off the highs on Monday. Canola futures are lower as well, taking soyoil prices down with it. Profit-taking was noted as prices have rallied hard over the last several weeks to new contract highs. Corn prices could not move over the gap area, leaving it for now as technical resistance. The eastern Corn Belt old crop corn basis is fading. Calls today are lower across the board as trading ranges continue. WEATHER --Drier weather in the eastern Corn Belt is welcome as areas have been too wet. Farmers like 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.