THE OPEN July beans: 24 higher July meal: 4.50 higher July soyoil: 120 pts higher July corn: 14 higher July wheat: 6 higher The market opened as called with profit-taking and active index fund rolling taking place. Wheat futures turned lower from higher, having never really joined the rally. Ultimately declining July open interest weighed on spreads and brought some pressure to flat-priced trade as well. At 10:00 export inspections were released as follows: Corn: 1,413,073 mt vs. 2,104,363 mt week ago (vs. an expected 1.8 mt) Wheat: 418,547 mt vs. 260,288 mt week ago (vs. an expected 340,000 mt) Beans: 237,108 mt vs. 194,131 mt week ago (vs. an expected 200,000 mt) Corn export inspe...
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.