SPREADS Dec crush trades to new highs at 1.30c/bu while oilshare is steady at 30.64%. Dec/March corn trades into new highs at 1 3/4c from 3c, while Dec/Dec congests from a 15 3/4c inverse from 13 1/2c. Dec/July wheat trades from 8 3/4c to 6c inverse. Dec wheat/corn trades from 2.15c down to 2.10c. Jan/March trades from 14c inverse to 13c. Dec/March meal trades from $16.10 inverse to $14.40. PALM OIL Jan. palm oil settles 54 ringgits higher, which underpinned soyoil futures for a reversal trade. Cash offers were unchanged for palm and olein at $752.50/mt and $755.00/mt, respectively. NEWS Stocks are down 60 pts this AM as jobless claims came in smaller than expected. An estimat...
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.