SPREADS May crush trades at 91.24c/bu while oilshare trades to 34.35%, as meal prices hit new ctr lows. July /Dec corn narrows into 2 1/2c from 3 1/2c, while March/May trades into 3 1/2c from 4c. July/Nov beans trades from 8 1/4c out to 10 1/2c. May wheat/corn trades down 4c to 1.67c. PALM OIL May down 78 ringgits, with cash offers down $12.50/mt. The palm oil council in Malaysia estimated 2020 production at 20.2 mmt, and 2020 exports to total 17.4 mmt. They noted that they expect China and India to reduce their imports of palm oil. NEWS Stocks losses have increased and the Dow is now down over 880 pts. Crude trades down to $50/73/barrel while the US dollar firms to 99.63. CALLS Calls a...
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.