THE OPEN May beans: 9 lower May meal: .70 higher May soyoil: 80 lower May corn: 1 lower May wheat: 3 3/4 lower Prices opened lower with more liquidation into the report tomorrow. The higher US dollar and the slower demand pace from China, along with a break-down in technicals, turns prices lower. Sharply lower soyoil futures trade triggers technical selling in beans. The soyoil price direction was on the coat-tails of a sharply lower overnight Chinese market, followed by sharply lower palm oil prices. Seasonally, palm oil supplies grow in the month of March, as may have been the case. Funds are selling wheat as a hedge against length elsewhere on the board. ...
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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.