SPREADS Oct. crush trades to 95.46c/bu while oilshare trades to 34.94%. Corn spreads tighten a bit with Dec/Dec trading into 36 1/2c from 37 3/4c, and values that were as wide as 40c. Sep/Dec corn trades into 11 1/2c from lows of 13c carry. Sep/Nov bean trades into 2 1/2c from 3c. Sep/Dec meal trades from $5.20 to $5.40. Dec wheat/corn trades from 1.77 1/2c to 1.76 1/4c. Sep/Dec wheat trades out to 9c from 8 1/2c. PALM OIL Oct. closed up 40 ringgits. Sep. cash offers for RBD palm oil and olein traded unchanged at $705.00/mt and $707.50/mt, respectively. NEWS Stocks are higher this morning, up 250 pts, with crude oil trading to $42.35/barrel and the US dollar at 93.48. CALLS Calls...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.