SPREADS July crush trades to 83c/bu while oilshare trades to 41.10%. Spreads remain firm with July/Nov trading up to 1.85 1/2c from 1.73 1/2c. The May/July bean inverse trades to 36c highs from 30c July /Dec meal inverts to a $23.10 high from $18.60. May/July corn invers to 63c from 41 1/2c, while July/Dec trades from 98 1/2c highs from 87 1/2c. May /July wheat trades from 3 1/2c inverse from 1c carry. July wheat/corn trades from 72 1/2c up to 89c. PALM OIL July down 127 ringgits ending at 3,942. The Indonesian Palm oil group reported March ending stocks at 3.2 mmt, down 20% from Feb., and off 5% from year ago. Production was reported higher up 13.5% vs. year ago, with March out...
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.