SPREADS July crush trades to 1.12c/bu while oilshare is slightly weaker this morning trading down to 29.89%. May/July corn trades into 4 1/2c from 5c, while July/Dec narrows into 10 1/2c from 11 3/4c. July/Nov beans trades down to 6 3/4c from its 12 1/4c inverse high. July/Dec meal trades down to $6.70 from $9.90. May/July wheat inverse trades from 5 3/4c down to 2 1/4c. May wheat/corn trades from 2.27 3/4c down to 2.20 3/4c. PALM OIL June down 64 ringgits, mirroring losses in rival oils, and pressured by worries over a plunge in demand as more countries go into lock-downs due to the pandemic. The expectation now is for reduced purchases moving forward and estimates of better March pa...
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.