THE OPEN Nov beans: 8 lower Dec meal: 2.60 lower Dec soyoil: 9 lower Dec corn: 4 lower Dec wheat: 4 lower The markets were hit with a round of fund selling on weaker closes but with recent more positive technical signals there was a lack of follow-through at the open. However, later in the session soy and grains succumbed to more weakness as crude oil values traded back below $60/barrel in a "fade-the-trade" affair. Comments from the Saudi oil minister saying that they could be back on line in 2-3 weeks, with other comments from the US/Japan also willing to open reserves, calmed tensions and generated a profit-taking atmosphere from the 14 percent crude price spike. With gold, equi...
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.