Mar 23 Corn closed at $6.53/bushel, down $0.005 from yesterday's close. Mar 23 Wheat closed at $7.535/bushel, down $0.0375 from yesterday's close. Jan 23 Soybeans closed at $14.8/bushel, up $0.065 from yesterday's close. Jan 23 Soymeal closed at $463/short ton, up $7.7 from yesterday's close. Jan 23 Soyoil closed at 63.36 cents/lb down 0.46 cents from yesterday's close. Feb 23 Live Cattle closed at $155.775/cwt up $0.925 from yesterday's close. Jan 23 Feeder Cattle closed at $183.775/cwt up $0.725 from yesterday's close. Feb 23 Lean Hogs closed at $85.775/cwt up $4.125 from yesterday's close. Jan 23 WTI Crude Oil closed at $74.45/barrel down $1.66 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.