SPREADS July crush trades to 61.87c/bu while oilshare values trades higher to 40.24%. Bean spreads are firmer with July/Nov trading up to 1.63 3/4c from 1.58 1/4c. Meal spreads weaken with the inverse trading from $17.00 down to $15.30. July/Dec corn inverse trades up to 68c from 63 3/4c. July wheat/corn trades from 66c up to 76c. PALM OIL June palm closes up 87 ringgits higher. NEWS Stocks are 45 pts lower with crude oil prices trading down to $60.93/barrel. CALLS Calls are as follows: beans: mixed-down 3 meal: 2.20 - 3.00 lower soyoil: 25-30 higher corn: steady/firm wheat: 2-4 higher canola: 3.00- 3.50 higher BUSINESS No business reported...
Beef packer margins deteriorated to -$261/head last week, down $19 from the prior week as weaker beef values (especially the Choice cutout) were offset by firmer fed cattle prices, which further compressed packer profits. The cutout slipped to $387/cwt while fed cattle prices held above $259/cw...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
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.