Demand and weather remain the two market movers, barring anything in next week’s USDA WASDE report that says otherwise. And then it is more likely to be about wheat. Sales continue to be supportive and even rumors about sales since they are backed by firming basis at the Gulf. China continues buying and the announcement that it is imposing more food stockpiling requirements on the provinces indicates the buying will continue. But once the restocking is complete, the party will be over for foreign suppliers. The narrower ranges in today’s trade, the hovering at the lower end plus the lighter volume indicates some confidence in the market, or at least a wait and see attitude since there are no new inputs to consider. It may...
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.