THE OPEN Nov beans: 4 1/4 higher Dec meal: 1.50 higher Dec soyoil: 7 higher Dec corn: 5 1/4 higher Dec wheat: 5 higher The markets opened higher as called and despite lower corn crop ratings and business announcements, there was not a lot of panic buying and prices setback to congest in recent ranges. Illinois ratings were the most dramatic drop for boughth corn and beans as crops try to make it to the finish line. The lack of a clear frost continues to be the major catalyst for the dead-cat bounce currently underway, but today the early firmness that was a rally picked up steam into the noon hour and accelerated into the close of day. Later in the session, analysts...
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.