SPREADS Dec crush trades up to 80c/bu while oilshare is still firm at 33.42%. Dec/March corn is a steady 11 3/4c-12c, which is narrower than its lowest point at 13c. Dec 19/Dec 20 corn trades to 23c from 20 1/2c, which is weaker than when it narrowed into 15 1/2c on the rally this week. Jan/March beans trade to 12c from 11 1/2c while Nov/Jan is out to 14 1/4c from 14c. Dec/March meal trades from $6.40-$6.80. Oil spreads remain firm on bull-spreading, trading from 45 pts to 46 pts. Dec wheat/corn trades from 1.29 1/2c to 1.31 3/4c. PALM OIL Dec up 10 ringgits. Refiners were keen to sell rallies, while buyers are not paying up. Destinations were quiet. Mala...
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.