Jul 23 Corn closed at $6.1525/bushel, down $0.1075 from yesterday's close. Jul 23 Wheat closed at $6.73/bushel, down $0.07 from yesterday's close. Jul 23 Soybeans closed at $14.49/bushel, down $0.195 from yesterday's close. Jul 23 Soymeal closed at $443.6/short ton, down $5.1 from yesterday's close. Jul 23 Soyoil closed at 53.57 cents/lb down 1.04 cents from yesterday's close. Jun 23 Live Cattle closed at $164.525/cwt up $0.175 from yesterday's close. May 23 Feeder Cattle closed at $212.4/cwt up $0.05 from yesterday's close. Jun 23 Lean Hogs closed at $86.075/cwt up $1 from yesterday's close. Jun 23 WTI Crude Oil closed at $77.87/barrel up $0.5 from yesterday's close. ...
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.