SPREADS Sep. crush trades top 76.35c/bu while oilshare is a steady 32.33%. Spreads are firmer with Sep/Dec corn narrowing into 7 3/4c from 8 1/2c. Sep/Dec wheat trades into 4 1/4c from 5 1/4c. August /Nov beans narrows into 3 1/2c from 5 1/2c. Sep wheat/corn trades from 1.75c to 1.74c. Sep/Dec meal trades from $5.50 to $5.80. PALM OIL Prices closed higher as ending stocks fell. Palm oil inventories fell 6.3% for the end of June from a month earlier, according to the Malaysian Palm Oil Board. Its forecast for June 2020 palm oil production is at 1.88 mmt vs. expected 1.783 mmt, and 1.651 mmt in May 2020. June ending stocks were estimated at 1.901 mmt, below 1.935 mmt. ...
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.