Nearly all of the action today was in the corn pit, and there was a good volume of trade. Meanwhile, wheat finished the day with decent gains in Minneapolis and KC as both markets gained on Chicago. General Comments Markets started the week relatively quiet. Wheat and soybeans were slightly lower overnight, and corn was higher. Crude oil was weaker, losing $1.16 today, and is just under $39 a barrel. Meanwhile, financial markets in the U.S. were mixed but did not follow oil lower. Trading volume was light in wheat and soybeans but good in corn. Last Friday’s Commitment of Traders report showed funds short more corn than expected.Weather is starting to attract some attention. The U.S. southern Plains are dry again, and the southern Midwest...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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.