World Perspectives

Ag Prices Creeping Up, Economic Growth Cratered

There’s been a lot of economic data released this week, most of it bearish and some of it unprecedented. Officially, the U.S. is in a recession, i.e. two quarters in a row of GDP contraction.   Starting in the farm economy, the June Agricultural Prices Received Index (based on 2011) was 89.2. That was up 1 percent from May but down 4.9 percent from June 2019. Compared to May, producers received higher prices in June for milk and broilers and lower prices for hogs, eggs, and corn. In addition to prices, the indexes are influenced by the volume change of commodities that producers market. In June, there was increased monthly movement for wheat and decreased marketing of cattle. Milk prices were up on reduced supplies. The ma...

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PM Post - All Things Factored In

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Technical Views - Going Down

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feed-grains soy-oilseeds

Crops Being Made

July is a critical month for corn and soybeans are made in August so short of freak events like last week’s derecho, this year’s crops are nearly past any troubles. Next week’s U.S. Midwest weather brings below normal temperatures and less precipitation, which is better than h...

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PM Post - All Things Factored In

THE OPEN November beans:  3 3/4 lower December meal:  1.20 lower December soyoil:  8 lower December corn:  1 1/2 lower September wheat:  1 1/2 higher The markets opened as called with continued price congestion.   Inter-market spread trade saw some unwinding a...

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Technical Views - Going Down

SPREADS  Oct. crush trades to 92.80c/bu while oilshare declines to 34.88%.  Corn spreads are slightly weaker with Dec/Dec trading from 33 1/4c out to 34 3/4c.  Dec/March corn trades from 11c to 11 3/4c.  Sep/Dec wheat trades from 1.72c up to 1.75c.  Sep/Dec meal traded...

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AM Outlook - Back in Trading Ranges

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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.

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