SPREADS Sep crush is weaker this morning at 93c/bu while oilshare firms to 31 percent. The Dec/Dec corn inverse trades from 41 3/4c down to 33 1/2c, and well off the highs at 52c, also well off the lows with the inverse breaking under 10c. Sep/Dec corn is weaker trading out to 6 1/2c from 4 3/4c. Sep wheat/corn trades from 74c down to 65 1/2c. Sep/Dec wheat trades from 11 1/2c carry to 12 14/c. Sep/Dec meal trades from $4.90 to $5.10 carry, and August/Nov beans from 18 1/4c to 18 1/2c. PALM OIL - Up 10 ringgits in August NEWS A higher stock market still fuels the story of the day, as prices are up 46 pts with a high this morning at 27,397 pts. Crude is steady at $60.54/barrel as Barry makes its way ac...
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.