SPREADS August crush trades to 82.17c/bu while oilshare trades to 32.56%. July/Dec corn trades into 13c from 14c, while July/Sep trades from 3 3/4c out to 4 3/4c. July/Dec wheat trades from 11 3/4c out to 12 3/4c. Jul wheat/corn trades from 1.86c down to 1.84 3/4c. Jul/Nov beans trades from 6c-7c. July /Dec meal widens out to $9.90 from $9.50. PALM OIL August palm oil ends down 14 ringgits. Malaysia's FGV palm oil group forecast that China and India could return as active buyers for the last half of 2020 as the economy recovers. NEWS Stocks continue to rally, up 150 pts, while crude oil prices trades down to $31.14/barrel. The US dollar is weaker to 98.77. 2.123 mi...
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.