World Perspectives
feed-grains soy-oilseeds wheat

AM Outlook - Bears are Winning

GOOD MORNING, Prices are lower on the back of good weather and continued worries over China/US trade relations.  Nearby bean and corn spreads remain well bid, though the domestic bean basis has weakened somewhat.  Oilshare trades lower on the back of weaker energies and palm. We are approaching the end of the month, which brings with it more acreage and stock estimates in front of the June report next Tuesday at 11:00.  On its own, weather remains for the most part bearish, offering up just enough for the bears to claim victory.  In the corn camp, there are still plenty of bears around without much reason to cover until charts cross key resistance lines.   Beans continue to see bull-spreads firm on the back...

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Summary of Futures

Dec 20 Corn closed at $3.365/bushel, down $0.0825 from yesterday's close.  Sep 20 Wheat closed at $5.2475/bushel, down $0.0925 from yesterday's close.  Nov 20 Soybeans closed at $8.7525/bushel, down $0.155 from yesterday's close.  Dec 20 Soymeal closed at $291.7/short ton, down $...

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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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