THE OPEN July beans: 10 higher July meal: 6.20 higher July soyoil: 13 lower Jul corn: 12 higher July wheat: 10 higher The markets opened as expected but buying came flooding back to the markets as funds appeared to buy back what they liquidated yesterday. The sale of corn to China fueled the upside of the market, but beans led the way higher into the USDA report to be released tomorrow. Meal traded to new highs, and a meal led rally is always supportive for beans. Bull spreading was fashionable today bouncing back from the sell-off in prev. weeks. Oilshare continued to struggle with palm, crude, and canola prices lower. Theme of the day is that of air in the markets as seller...
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.