SPREADS August crush trades up to 1.04c/bu while oilshare trades up to 46.0%. July/Nov bean spread inverse falls to 79 1/2c from 90c while August /Nov inverse trades from 48 1/2c to 42 1/4c. Sep/Dec meal carry trades weaker from $3.50 out to $4.50. Sep/Dec corn trades inverse trades from 14 1/4c up to 16 3/4c and could strengthen more. July/Dec corn trades up to 1.35 1/2c from 1.28 3/4c. Dec /March wheat trades from 6 1/4c out to 6 1/2c. Dec wheat/corn trades from 1.34 1/2c up to 1.39c. PALM OIL Sep. down 21 ringgits ending at 3,424 ringgit/mt. The Malaysian Palm Oil Council forecast over the next three months for prices to range from 3,500 to 3,800 ringgit/mt. They noted...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.