SPREADS August crush trades to 84.94c/bu while oilshare is firm at 32.78%. The front month roll continues, with July/Dec corn firming into 13 1/2c from 14c, and July/Sep trading from 4 1/4c to 4 3/4c. July/Nov bean trades from 13c to 13 3/4c, while July/Dec meal spreads remain a wide $9.50 to $9.90. July/Dec wheat trades out to 16c from 15 1/4. July wheat/corn trades from 1.79 3/4c to 1.76 1/4c. PALM OIL Palm oil closed up 1.7%. Analysts are expecting Malaysian palm oil production for May 2020 around 1.705 mmt, and exports at 1.323 mln mt. The data will be released by the Malaysian Palm Oil board on Wed. Palm oil ending stocks are at 2.247 mln mt, and if realized would be 10% higher 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
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.