SPREADS Wheat inverses remain strong nearby, with May/July reaching 24c over on Friday, now trading from 13 1/2c high to 10 3/4c. July crush trades firmer to 1.18c/bu while oilshare is firmer at 29.79%. July/Dec corn narrows into 12c from 12 1/2c. July/Nov bean inverse trades from 13 1/2c down to 9 1/2c. July/Dec meal inverse trades from $12.10 to $10.90. May wheat/corn trades from 2.29 1/4c to 2.30c. PALM OIL June down 39 ringgits, down 1.6% as demand concerns outweigh supply disruptions due to coronavirus. NEWS Stocks are down 99 pts in quiet trade, with the US dollar firmer to 99.95. Crude trades to $21.89/barrel, off its all-time low of $19.85/barrel. CALLS Calls t...
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.