Jul 21 Corn closed at $6.5725/bushel, down $0.0225 from yesterday's close. Jul 21 Wheat closed at $6.6225/bushel, down $0.12 from yesterday's close. Jul 21 Soybeans closed at $15.2275/bushel, down $0.035 from yesterday's close. Jul 21 Soymeal closed at $400.2/short ton, up $1.3 from yesterday's close. Jul 21 Soyoil closed at 65.13 cents/lb down 0.36 cents from yesterday's close. Aug 21 Live Cattle closed at $120.1/cwt down $0.825 from yesterday's close. Aug 21 Feeder Cattle closed at $154.125/cwt up $0.425 from yesterday's close. Jun 21 Lean Hogs closed at $113.35/cwt down $0.875 from yesterday's close. Jul 21 WTI Crude Oil closed at $65.96/barrel up $2.38 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.