SPREADS Jan crush trades down to 1.16c/bu while oilshare trades to 32.0%. Corn spreads widened today with Dec/March trading out to a 10c carry from 9 1/2c, spilling over into Dec/Dec which trades from an 11 3/4c inverse down to 9c. Dec/March wheat trades from 7 3/4c to 8 1/2c carry. Dec/March meal trades from $6.20 inverse to $5.10. The Jan/March bean inverse continues to weaken trading from 1/4c to 1c inverse. PALM OIL Jan down 1 ringgit to close at 3,345 on profit-taking. NEWS Stocks are down 200 pts with US jobless claims falling 48K to 709K for the week ending Nov 7. US consumer prices were unchanged in October which was the lowest reading in five months. Crude trades to $41.94/barrel...
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.