SPREADS July crush trades up to 1.19c/bu while oilshare trades higher to 29.93%. Corn spreads are weaker with July/Dec trading from 12 1/4c out to 13 1/4c. May/July corn trades from 5 3/4c to 6 1/4c. Bull-spreading continues for beans with July/Nov consolidating its inverse from 7c up to 10 1/2c. July/Dec meal inverses remain strong with a $10.80 higher from $8.20. May/July Chicago wheat inverse firms to 16 1/4c from 11 1/4c. PALM OIL June up 59 ringgits, and cash up $10/mt. NEWS Outside markets continue to show weaker crude with a new low of $19.92/barrel, and firmer US dollar at 99.04 from 98.28. Crude oil prices remain in chartered territory as the US announces new travel r...
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.