SPREADS March crush falls to 92.93c/bu while oilshare trades to 33.14%. Corn spreads are part of the bull market price action, with July/Dec trading into new contract highs of 55c from 47 3/4c, and prices that were congesting around 30c inverse. March/May corn slips into a 1c inverse. March/May wheat trades into 1 3/4c carry from 3 1/4c. March/May corn trades from 1.58 1/4c to 1.51c. Jan/March bean spread trades to a 5c inverse from 3 3/4c, and from a carry. March/May beans trades to a 6 1/4c inverse from 3 1/4c. March/May meal trades from a new high at $8.00 inverse to $5.50. PALM OIL Palm oil closed at a new contract high last Thursday at 3,600 ringgits and trades up 124 pts this Am...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.