SPREADS Dec crush trades to 98.96c/bu while oilshare trades up to 33.0%. Corn spreads are slightly weaker, with Dec/March trading out to 9c from 8 1/2c, while Dec/Dec trades from 16 1/2c to 18 1/2c. Dec/March wheat trades from 6 1/2c to 7c. Nov/Jan beans trades from 3 3/4c out to 4c in front of the report, while Jan/March inverse falls to 3 1/2c from 4 1/4c as China buying looks to have slowed in front of their Oct. 1-8 holiday. Dec wheat/corn trades from 1.83 1/4c up to 1.85 1/2c. PALM OIL Dec. down 46 ringgits ending at 2,774 ringgit/mt. NEWS Stocks are 23 pts lower with crude at a $40.70/barrel high, and the US dollar trading down to 93.89. CALLS Calls are as follows: beans:&n...
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.