SPREADS Oct. crush trades 1.08c/bu while oilshare corrects back under 33% to trade to 32.82%. Spreads are weaker still with Dec 19/20 corn trading out to a 33c carry vs. 52c inverse at the high end of the trade. Dec/March corn widens out to 13 3/4c. Nov/Jan beans remain a wide spread, trading out to 13 1/4c from 13c while Dec/March meal trades from $4.80 to $4.90. Dec wheat/corn moves from 1.00c to 1.02 3/4c. PALM OIL Up 2 ringgits. SGS estimated palm oil product exports over the Aug. 1-10 period at 475,555 mt, up 29.8 percent over their July 1-10 estimate. NEWS Stocks take back all of yesterday's rally with a 350 point drop this morning as China does not reciprocate the move by the White...
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.