SPREADS May crush trades at 89c/bu while oilshare trades up to 34.0% as correcting lower this week. July/Dec corn trades into 2 1/2c from 3 1/4c. March wheat/corn trades from 1.82c to 1.85 1/4c. July/Nov beans trades into 5 3/4c from 6 1/2c. Traders continue to bull-spread July/Nov beans. March/May meal trades from $5.40 to $5.60. March/May wheat inverse trades form 1c to 1/2c. PALM OIL Closed up 34 ringgits, with cash offers up $5/mt. SGS forecast Malaysian palm oil exports over the Feb 1/20 period at 744,230 mt, off 2.8% from their Jan 1/20 estimate. NEWS The Dow is down 100 pts on profit-taking with the US dollar slightly lower today at 99.60. Crude is in the red at $62.68/...
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.