Short covering was the CBOT’s theme of the day with nearly all ag markets closing higher. Slow crop maturity progress and the inability to conclude spring wheat harvest were major justifications for the day’s rally. Moreover, the weather is deteriorating quickly for parts of the U.S. Midwest, to the detriment of the corn and soybean crops. Over the next two days, a winter storm will slip south from Montana into the northwestern Plains states, bringing with it freezing temperatures and possible snow. Thursday brings the greatest chances of snow for significant crop-producing areas, with over half of the Dakotas and a third of Nebraska having a 50 percent chance or greater of receiving 1” or more of snow. Fortunately, the C...
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.