SPREADS Jan. crush trades 1.24c/bu while oilshare mounts a rally back over 31.0% to close at 31.10%. Spreads are higher today, with Dec/Dec corn inverse returning to a high of 12 3/4c from 9 1/2c, while the actively traded Dec/March trades into 3 1/2c from 4 1/2c. Nov/Jan beans trades from 1 3/4c to 3c carry, while Jan/March inverse is a steady 6 3/4c to 7 3/4c, closing at the highs. Dec/March meal trades from $17.30 inverse to $15.50. Dec wheat/corn trades from 2.15c down to 2.10 3/4c. PALM OIL Jan up 94 ringgits higher, finishing at 3,069 ringgit/mt. NEWS Stocks continue to recover losses from a week ago, up 370 pts in the early going. Crude oil trades up to $38.30/barrel, while t...
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.