GOOD MORNING, As we head into Labor Day, funds continue to build their net short positions in corn while maintaining an overall larger short in beans and meal. Corn prices are pressured by ongoing harvesting in Mississippi and parts of the Delta, (in between raindrops), with producers reporting good yields. As the markets turn choppy, a few fan - favorite spreads continue to emerge. 1. Buy soyoil/sell meal. Oilshare was working higher off the back of higher palm oil values and forecasts for tighter supplies as Chinese crush was reduced. ASF weighs on meal. It's a good story, but can it last? There are still plenty of soyoil bears out there who say hogwash to higher prices. ...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.