U.S. crop growing weather looks near perfect. Even dry parts of Nebraska and northern Illinois have just received good relief rains. The rest of July is cooler and damp, perfect for pollination. The share of the corn crop rated Good/Excellent is 74 percent, and its 66 percent for soybeans. Yet USDA’s WASDE lowered the expected corn crop by 115 million bushels and cut soybean output by 5 million bushels on lower acreage. It also lowered old crop corn carryover. Everything but soyoil and cattle fell lower today on what looked like a bullish report. A new contract low was printed for corn; cattle hit a new contract high. Traders went with their gut, not this report. Cattle was the only contract to make gains this week. It was...
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.