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: 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.