SPREADS Dec crush trades to 87c/bu while oilshare is at 33.79%. Volume remains huge for the March/Dec corn spread which narrows into 10 3/4c from 11c. Dec wheat weakens vs. corn with the spread trading at 1.27 1/2c to 1.28c. Dec 19/Dec 20 corn trades back out to 22 3/4c. Dec/March wheat widens back out to 6 1/2c from 5 3/4c. PALM OIL Holiday NEWS Stocks trade higher, up 90 pts. The US dollar trades to 98.89. Crude trades to $56.24 /barrel lows. CALLS Calls are as follows: beans: 2 1/2-3 higher meal: .30-.50 higher soyoil: 15-20 higher corn: 1 1/2-2 lower wheat: 3 1/2-5 lower canola: 1.20-1.40 higher BUSINESS USDA report...
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.