Commodity markets opened mostly in the red but managed a turnaround late in the session for corn, beans and wheat. There was not much fundamentally driving the market. Export sales were solid but there have been no new flash sales reports for several days. By contrast, equity markets opened mixed and closed solidly in the green on better Q2 growth. Reports Export Sales: Old crop export sales continue to decline in favor of new crop positions. Wheat export sales rose on a weekly basis, and exports hit a marketing-year high at over 1 MMT. For a fifth straight week new crop corn sales have exceeded 2 MMT. New crop soybean sales exceeded 1 MMT for a third straight week, though exports were down. Meal sales are consistent and combined old/...
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.