The CBOT turned higher on the final full day of trading before the September WASDE is released at Noon ET on Monday. Wheat futures led the way as the market is increasingly nervous heading into the weekend after Russian President Putin disparaged the Ukrainian export corridor agreement and set up a meeting with Turkish officials (including, reportedly, Turkish President Tayyip Erdoğan) next week to discuss the deal. Few are expecting the discussions to increase exports and the best the market can hope for is a continuation. With wheat in the lead, corn followed as the market solidified this week’s gains heading into what should be a bullish USDA report. The soy complex also pushed higher for the day with the energy market’s rall...
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.