SPREADS Dec crush trades to 1.22c/bu while oilshare trades at 47.24%. Dec/March corn trades 8 1/4c to 8 1/2c, Dec 21/22 inverse trades down to 6c from 9 1/4c. Nov/Jan bean carry trades from 9 3/4c to 10 1/4c while the Nov 21/22 inverse falls to 2 3/4c from 7 3/4c. Nov/March beans traded out to a new low at 18c. Dec wheat/corn trades from 2.12 1/4 from 2.16c. Dec/March wheat trades from 10c to 11 1/2c. PALM OIL November RBD palm oil and olein cash offers on Monday traded up $10/mt higher ending at $1.197.50/mt and $1,200.00 /mt, respectively. NEWS Stocks are down 65 pts with crude oil weaker to $75.32/barrel, and the US dollar trading to 93.74. CALLS Calls are as follows: beans: 8...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.