SPREADS Sep. crush is 1.12c while oilshare trades at 46.90%. The September roll continues, and is still a bulk of trading volume. Sep/Dec corn widens out to 3c to 4c carry, while Dec/March carry trades from 7 1/4c to 7 3/4c carry. Sep/Dec wheat trades out to 13c from 12 1/2c carry. Dec wheat/corn trades to 1.82c from recent highs at 1.89c. August /Nov bean inverse trades to 1.12 1/2c and values that were at 1.19c this week, as futures get ready to expire this week. Sep/Nov inverse is 11 1/2c to 10 3/4c. Nov/March bean carry is 1 3/4c to 3c. Sep/Dec meal is $2.00 to $2.30 carry. PALM OIL October futures jumped 305 ringgits, ending at 4,505 ringgit/mt, due to lower ending stocks data.&n...
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.