SPREADS October crush trades to 1.03c/bu while oilshare trades to 33 percent. Dec/March corn narrows into 12 1/2c from 13 1/4c, while Dec 19/Dec 20 carry is at 33c from 30 3/4c. Sep/Dec meal trades out to $5.50 from $5.30, while Dec/March trades to $4.80 from $5.00. Dec wheat/corn corrects a bit trading from 1.08 1/4c down to 1.01 1/4c. PALM OIL Sep closed down 4 ringgits. SGS forecast Malaysian palm oil product exports for the first half of August at 752,470 mt, up 14.3 percent vs. first half July. NEWS The Dow is up 156 pts this morning as it stays afloat over the 25,000 pt level. The US dollar is weaker at 97.82 while crude sits at $53.77/barrel. For the day, weaker energies will weigh...
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.