Overnight trade of grain and soy futures was not quite as frenetic as yesterday. Corn futures then traded in about an 8-cent range today, mostly to the red side of yesterday’s closes. July soybeans traded in a 13-cent range, mostly to the upside, but they still closed indecisively. General Comments Overnight trade of grain and soy futures was not quite as frenetic as yesterday. Nevertheless, soybeans and wheat were firmer on top of yesterday’s gains while the corn market paused. Volume was moderate. Following yesterday’s trade, open interest in corn dropped 13,220 contracts as SRW open interest fell 14,902 contracts, presumably because of fund short covering for the most part. KC HRW open interest declined only 1,697 contracts, and soybea...
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.