SPREADS Crush margins continue to firm with March trading to 1.02c/bu. Oilshare trades back up to 34.0%. Jan/March beans trade to ctr lows at 14 1/4c. Dec/March corn trades from 10 1/4c to 10 1/2c, while Dec 19/Dec 20 trades from 25 1/2c to 26c. Dec wheat/corn trades from 1.51c to 1.40 3/4c. Dec/March meal narrows into $4.50 from $4.80. PALM OIL Feb crude oil closes up 76 ringgits, boosting soyoil futures today. Talk that Nov production could be down as much as 10-13% sparked the rally. NEWS Stocks are 55 pts higher with crude oil at $58.51/barrel, and the US dollar trading at 98.06. CALLS Calls today are as follows: beans: 1/2-1 lower meal: .80-1.00 lower soy...
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.