SPREADS July crush trads to 60.25c/bu while oilshare trades to 38.23%. Spreads are slightly weaker for July/Nov inverse, trading down to 1.33 1/4c, while May/July inverse trades from 5-6c. July/Dec meal trades from $18.00 inverse to $16.10, while May/July trades from $3.40 out to $3.70. May/July corn inverse firms to 18 1/4c from 17c, while July /Dec trades from 64 3/4c to 68c. May/July wheat trades from an inverse to a slight carry at 1 1/2c. PALM OIL June down 23 ringgits ending at 3,768 ringgit/mt. NEWS Crude oil prices remain weaker this AM, back under $60/barrel with the US dollar firming to 92.41. Equities are higher, up 35 pts. as the US March PPI was up 1.0% vs. an expected 0.4%. CALLS Call...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.