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: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
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.