SPREADS Jan crush trades down to 98c/bu, under 1.00c/bu, around 40c off its highs. Oilshare trades down to 32.36% in a correction. Dec/March corn trades into 6 1/2c from 7c while the Dec/Dec inverse falls to 9 1/2c from 15 1/2c. Dec/March wheat trades from 4 1/2c carry to 5 1/2c. Jan/March bean spread trades out to 2c carry from 1/2c. Dec /March meal inverse trades down to $2.30 from $4.00. PALM OIL Feb. palm oil down 75 ringgits closing at 3,251 ringgit/mt. Cash offers were down $10/mt. SGS forecasts palm oil exports for Oct. 2020 at 1.714 mmt of product, up 6.9% vs. Sep. exports. NEWS Stocks are up 300 pts. as the promise of more vaccines appears ready to be approved. ...
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.