SPREADS July crush trades to 61.51c, while oilshare trades to 39.85%. Spreads firm with Jul/Nov bean inverse strengthening up to 1.62 1/2c from 1.53c, while May/July trades to 15c from 13 1/2c. July/Dec corn firms to 64c from 60c, while May/July inverts to 12 1/4c from 11 3/4c. July/Dec meal trades to an inverse of $17.70 from $15.80, while May /July trades into a $3.60 carry from $3.90, and values that were over $5.00. PALM OIL June up 94 ringgits, ending at 3,804 ringgit/mt. Analysts with Intertek forecast exports over the April 1-20 period at 813,946 mt, up 10% vs. March 1-20 estimates. NEWS Stocks are down 133 pts with crude oil trading to highs of $64.25/barrel, with the US dol...
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.