The CBOT was mostly red again on Wednesday with the same factors at play as have been all week. Weak (and weakening) technical conditions, fund liquidation, and damaged export potential due to the hurricane combined to keep the markets on the defensive. Somewhat surprisingly, end-users and international buyers have been quiet on the declines, but sources say there are resting buy orders between today’s close and major technical support. Funds were net sellers across the board and the export disruptions at the Gulf are the market’s chief focus right now. Offers are impossible to get for U.S. Gulf grains this week, which is keeping the cash market exceptionally quiet and minimizing any support that could have come from the futures...
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.