SPREADS July crush is trading at 84.58c/bu while oilshare trades to 41.69% as it continues to correct. July /Nov bean spread bounces back to 1.81 3/4c from 1.73 1/2c and closes at the highs. Would look for further strength. Jly/Dec corn trades up to 1.09c from a break that took values to an 87c inverse level. Would also look for further strength with the inverse low at 1.02 1/4c. Jul /Dec meal inverse strengthens to $28.80 from $24.80. July wheat/corn trades from 18 1/2c to 23 3/4c. PALM OIL July down 23 ringgits to close at 4,345 ringgit/mt, lower for a second session as pressure from rising inventories and a better outlook for US crop plantings counted a surge in May e...
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.