The CBOT took a bit of a breather on Monday as traders waited for the upcoming Prospective Plantings and Grain Stocks reports, which the USDA will issue Tuesday at midday. Traders were reluctant to expand risk too much ahead of these two reports, which often change market direction and tone for at least several weeks each spring. This year, with funds’ activity in the market so much more pronounced and one-sided from the impacts of the war in the Middle East and the crude oil rally, traders are more cautious that that USDA’s fundamental report could create a bigger ripple in the markets. That left corn and KCBT wheat weaker for the day while CBOT wheat, soybeans, and soymeal were all slightly higher or unchanged. Soyoil, of cour...
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.