Weekend rains across Iowa, Illinois, and Indiana that are expected to boost corn and soybean yields pressured the CBOT today. Precipitation of 0.5-2” fell over parts of the Corn Belt that have badly needed it. The rains come just in time for the Pro Farmer Crop Tour, which is making its way across the Midwest this week. Looking forward, the weather remains a positive factor for row crops. Temperatures are expected to be slightly above normal for the coming week, and then there are better odds of cool weather as August ends. Precipitation will be above normal for the major crop-growing regions with significant rainfall forecast for eastern Kansas/Nebraska and western Missouri early this week. The only weather concerns now are first fr...
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.