SPREADS Sep crush trades to 96c/bu while oilshare weakens to 30.95%. Corn spreads are slightly wider with Dec/March trading out to 8 1/2c while Sep/Dec trades out to 5 1/4c from 5c. The Dec/Dec corn inverse trades from 16c down to 13c after rebounding into the 20's last week. Sep/Dec meal weakens out to $4.50 from $4.40. The Sep wheat/corn spread trades from 71 3/4c to 70c. PALM OIL - closed 9 ringgits lower NEWS The stock market is firmer this morning trading up, with crude oil values at $56.36/barrel, and the US dollar higher at 97.17. The higher US dollar is price negative for wheat. Calls today are higher across the board, and still feels like we are on a buy soy/sell grains featured trade:...
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
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.