SPREADS Dec. crush trades to 1.00c/bu while oilshare trades to 46.42%. Dec/March corn trades from 9 1/2c to 9 3/4c, while Sep/Dec recovers from a trade that had been out to 16c, (trading 13 3/4c to 15c today). Dec/March wheat trades out to 11 1/2c carry from 10 1/2c. Dec wheat/corn trades from 2.11c down to 2.06 1/2c. Nov/Jan bean spread trades from 9 1/2c to 10 1/4c carry, while the Nov 21/Nov 22 inverse trades from 28 3/4c to 35 1/4c. Dec/March meal trades from $5.70 to $6.00. PALM OIL Nov. up 90 ringgits to close at 4,480 ringgit/mt. Malaysia's palm oil board forecasts 2021 production at 18.0 mmt, down 1.1 mmt from year ago. Exports for 2021 are forecast at 16.3 mmt, down from 17.3...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.