General Comments Overnight trade was mixed with corn retaining some of yesterday's strength while soybeans and wheat bounced around on both sides of unchanged. It was not until open outcry trading opened that soybeans and wheat returned to green numbers, joining corn. Ultimately, led by corn, the grains retained their gains at the close of the day session. Soybeans struggled as prices bounced around in a 20-cent trading range. They closed down a few cents at just about the mid-point of the trading range. The complex was unable to overcome the considerable weakness of soyoil, which closed down more than 100 points (1 cent/pound).Markets had little by way of fresh news on which to trade. Yesterday's rumor that China would offer 1 MMT of it...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.