THE OPEN Nov beans: 4 1/2 lower Dec meal: .40 lower Dec soyoil: 23 lower Dec corn: 1 3/4 lower Dec wheat: steady Prices opened as called with buy grains/sell soy a key feature of trade. Continuing rainfall in the Northern Plains created sharply higher trade again for Minneapolis spilling over into Chicago wheat, while strong cash prices helped corn to firm. The soy complex drifted lower led by soyoil as traders booked profits on oilshare. Informa released 2020 crop projections as follows: Corn: 95.1 mln with a yield of 178.7 bpa, and production at 15.6 bln bu Beans: 84.2 mln with a yield of 51.4 bpa and production at 3.285 bln bu Wheat: 45.4 mln with a...
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.