SPREADS August crush trades to 91.90c/bu while oilshare trades 45.61%. August /Nov bean inverse trades to 43 1/2c down to 39 1/4c., while Sep/Nov trades from 7 1/2c down to 5 1/2c. Sep/Dec meal carry trades from $3.60 out to $4.50. July/Dec corn trades at 1.21 1/2c, with Sep/Dec inverse trading from 11c to 12c. Dec /March wheat carry trades from 7 1/4c to 7 3/4c. Dec wheat/corn trades from 97 1/4c to 96 3/4c. PALM OIL Sep. down 24 ringgits with cash down $2.50/mt. NEWS Stocks are down sharply over 450 pts with crude oil trading down to $70.76/barrel on the possibility of weaker demand if covid concerns continue over the Delta variant. The US dollar trades to 92.33. CALL...
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.