SPREADS Dec crush falls to 85c/bu while oilshare corrects back towards 33 percent with a morning trade at 33.14 percent. Sep/Dec corn trades a touch weaker from 11c out to 11 1/2c, vs. values that were 13c. Dec 19/Dec 20 corn trades into 30 3/4c from 32c. Dec wheat/corn trades from 1.10 3/4c to 1.13c. Nov/Jan beans trade from 13 1/4c to 13 3/4c while Jan/March narrows into 11 1/2c from 12 1/4c. Dec/March meal narrows into $4.70 from $5.00. PALM OIL Nov down 40 ringgits. Cash is quiet with offers for Oct. delivered Malaysian RDB palm oil lower at $530.00 /mt. Palm fundamentals are bearish right now. Exports are looking sluggish and is weighing on the market, as traders are...
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.