SPREADS July crush trades to 68.20c/bu while oilshare trades up to 41.0%. Spreads remain firm with July/Nov bean inverse trading up to 1.81 1/2c from 1.73 1/2c, while July /Dec corn trades from 82 1/4c from 74 3/4c. July wheat/corn trades from 85c down to 80c. PALM OIL July palm oil is down 60 pts ending at 3,929 ringgits. NEWS Stocks are 29 pts lower with crude oil at $61.25/barrel lows, and the US dollar weaker at 90.89. CALLS Calls are as follows: beans: 3-5 lower meal: 2.20-2.50 lower soyoil: 5-10 lower, May up 10-15, look for soyoil contracts to probably turn higher corn: 3-5 lower wheat: 2-4 lower BUSINESS USDA reports 132,000 mt of beans sold to Chi...
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.