SPREADS July crush firms back to 58c/bu while crush trades to 38.10%. July /Nov beans inverse trades from 1.70 1/4c up to 1.75 1/2c, while May/July congests from 8 1/2c to 10c. July/Dec corn trades from 70 1/4c inverse to 67 1/2c, while May/July firms to 17 1/4c from 16c. July /Dec meal trades from $28.70 inverse to $27.20. May wheat/corn trades from 61 1/4c to 65c. PALM OIL June crude trades 44 ringgits higher ending at 3,616. Intertek forecast palm oil exports in March at 1.270 mln up, up 26% from 1.001 mmt in Feb. NEWS Stocks are 16 pts lower with crude oil mixed trading at $60.10/barrel. The US dollar falls to 93.09. The ADP reported the total number of jobs revised...
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.