SPREADS Sep. crush trades to 76.04c/bu while oilshare trades lower, back to test 34.0% once again. The bean inverse remains well bid with August/Nov closing at its highs of 4 1/4c from 2 3/4c. Sep/Nov also remains extremely firm trading into 2 1/4c from 3c. Sep/Dec corn widens out to 7 3/34c from 7 1/4c. Sep./Dec wheat firms to 6 1/2c from 7c. The Sep. wheat/corn spread trades from 1.94c to 1.97 3/4c. PALM OIL October palm down 21 ringgits NEWS The stock market is higher this morning crude oil prices hitting new trading range highs at $42.16/barrel, as economies continue to recover from Covid. The US dollar trades down to 95.61. CALLS Calls today are as follows: beans: 6-8...
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.