SPREADS May crush trades to 69c/bu while oilshare trades back over 35.0% to 35.36%. Corn spreads are slightly weaker with the July/Dec inverse trading down to 78 1/4c from 80 1/4c, while May/July trades down to new lows at 9c from 10c. May /July wheat trades from 17 1/4c inverse down to 15 1/2c, settling in between. July wheat/corn trades 1.11 1/4c. July /Nov beans trades weaker down to new lows at 1.74 1/2c from 1.80 3/4c. July/Dec meal falls to $47.50 inverse from highs of $48.80. NEWS Stocks regain some lost ground trading 80 pts higher, with crude oil breaking to $58.59/barrel as temperatures across the Midwest see a warming trend over the weekend. The US dollar falls to 90.17. CALLS...
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.