The CBOT posted a day of two-sided trade on Friday to end a week of choppy, two-sided trade. With the three-day weekend coming up, few traders were interested in extending positions or adding risk to portfolios, which limited trading volume and price action. Additionally, there was little fresh news to drive market action, except for Argentina’s continually worsening conditions and weather outlooks. That offered some support to corn and soybeans for the day, but this week’s lackluster export sales for both commodities limited gains. CBOT wheat futures seemed to find some stability heading into the three-day weekend while the KCBT market pushed 8 cents higher, despite pressure coming to the rail market for high-pro wheat. ...
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.