Dec 24 Corn closed at $4.0575/bushel, down $0.07 from yesterday's close. Dec 24 Wheat closed at $5.655/bushel, down $0.1025 from yesterday's close. Nov 24 Soybeans closed at $10.1325/bushel, down $0.0075 from yesterday's close. Dec 24 Soymeal closed at $321.6/short ton, up $0.2 from yesterday's close. Dec 24 Soyoil closed at 40.93 cents/lb up 0.62 cents from yesterday's close. Dec 24 Live Cattle closed at $181.125/cwt up $1.275 from yesterday's close. Oct 24 Feeder Cattle closed at $243.775/cwt up $3.825 from yesterday's close. Oct 24 Lean Hogs closed at $82.25/cwt up $0.2 from yesterday's close. Nov 24 WTI Crude Oil closed at $71.05/barrel up $1.17 from yesterday's close.  ...
What You Need to Know Today: Agricultural commodities were mostly lower on the day, with red-hot soyoil a notable exception. Export sales were a bit underwhelming, particularly for corn with export sales down 52 percent week-over-week. The weakness in ag markets tracked crude oil weakness wit...
With the war in Iran affecting fuel and fertilizer prices, higher tariffs, weak commodity prices, ag labor constraints, and other factors, farm bankruptcies are now at a 6-year high, a signal of growing stress. During the month of April, 62 Chapter 12 bankruptcies were filed, which is a 1...
Food Inflation The Open Markets Institute, which is notably funded by several “anonymous” donors and liberal foundations, obtained a guest editorial in the New York Times in which they blame agribusiness concentration for higher grocery prices. This is their schtick and it is politi...
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.