SPREADS July crush trades up to 91.39c/bu while oil share trades to new highs of 42.29%. Jul/Dec corn inverse trades up to 97c, new highs, from 90 1/2c, while May/July trades to 41c from 26 3/4c. July/Nov bean inverse trades up to 1.91c from 1.66 3/4c, big moves overnight. July/Dec meal inverse trades up to $21.80 from $17.40. July wheat /corn trades up to 89 3/4c from 73c. PALM OIL July crude trades 185 ringgits higher ending at 4.072 ringgits NEWS Crude oil rises to $62.74/barrel as OPEC prepares to meet regarding what could be upcoming demand, despite growing cases of coronavirus in India and Brazil. Equities are 13 pts lower. CALLS Calls are as follows: beans: 4-6 higher meal: 1.00-1.20 lower...
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...
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.