The CBOT was mixed to start the week with corn and soybeans posting lackluster days. The wheat market continued last week’s strength early in the session but quickly found selling pressure that created bearish signals on the charts. Funds were modest net buyers in corn and soybeans while turning into wheat bears. Cattle futures were lower, following post-Cattle on Feed report expectations while the hog market finished with slight gains as cash prices continue to firm. The U.S. weather forecast remains dominated by hot/dry weather for most of the West and Midwest while the Gulf is bracing for the possibility of two hurricanes making landfall this week. The Delta and U.S. Southeast will receive 3-6” of rain this week with s...
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.