THE OPEN Nov beans: 7 lower Dec meal: 1.00 lower Dec soyoil: 60 lower Dec corn: 6 lower Dec wheat: 2 1/2 lower The markets opened lower and found more liquidation on the same news as yesterday; export delays, rainfall, and weaker technical price action. Weaker oilshare was a feature of trade once again. Disruptions from the Gulf are dominating market sentiment. The uncertainty of the timetable for exports is negative, and unknowns tend to go against market positions. SOY Prices opened on the defensive but weaker soyoil futures weighed on beans, which were already moving sideways/lower. December soyoil broke the 58c level, following weaker crude, palm, and canola prices.&nbs...
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.