World Perspectives
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AM Outlook - New Highs Beget New Highs

GOOD MORNING, Prices closed on a firm note and extended gains once more overnight as funds now establish long positions across the board.  November beans hop over the $10.00 mark to achieve a new contract high, and December corn breachedver the $3.70 level.  Though the USDA did not lower corn and bean production/yield estimates as much as expected, traders are obviously looking for further reductions in the October report.  On the bear side, corn production is still among the highest levels ever at 14.9 bln bu.  On the bull side, bean ending stocks were 25% lower, and China demand continues to underpin prices.  Strong palm oil prices and vegoil demand pushed December soyoil to new highs as well over 34c.  ...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.785/bushel, up $0.0325 from yesterday's close.  Dec 20 Wheat closed at $5.75/bushel, up $0.1875 from yesterday's close.  Nov 20 Soybeans closed at $10.435/bushel, up $0.15 from yesterday's close.  Dec 20 Soymeal closed at $342.1/short ton, up $6.8 from ye...

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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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