GOOD MORNING, Prices are mixed featuring further gains in corn and a rebound in meal. Nearby corn spreads are firmer on a strong domestic US basis and very good export inspections report from yesterday. Wet weather may hold up plantings, and we need ideal weather in order to achieve maximum production. Brazil's Safrinha crop remains behind and weather continues wet in areas where the crop still needs to be planted. Meal prices are higher on technically oversold conditions and a much lower than expected NOPA crush report from yesterday. Soyoil futures are lower on weaker energies, as traders book oilshare profits. Wheat futures are lower on technical considerations. The mission of the market is to n...
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.