THE OPEN July beans: 5 higher July meal: .50 lower July soyoil: 35 higher July corn: 2 3/4 higher July wheat: 6 1/4 lower Prices opened as expected with corn and soyoil prices higher on the back of firmer crude oil at the open. However, only one of them stayed higher on a consistent basis through-out the day, which was soyoil. Oilshare was higher as traders bought soyoil/sold meal. Funds were liquidating more long positions in wheat, as weather turns neutral from bullish. Solid exports for beans in tomorrow's report is price supportive, with the USDA confirming purchases of US beans at roughly 800,000 mt for the past week. A higher US dollar works against wheat sales, 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.