SPREADS May crush trades to 63c/bu while oilshare is 33.80%. Spreads are steady with July/Dec corn inverse trading to 86 1/4c from 83c and May/July at 10 1/2c to 11c. July/Dec wheat bounces to 96c inverse from 90 1/4c. March wheat/corn trades from 85c to 95c. July/Nov bean spread trades from 1.92 3/4c to 1.87c while March/May trades from 3 1/4c inverse to 2 1/4c. PALM OIL April closed up 65 ringgits at 3,382 ringgit/mt. The Malaysian Palm Oil Board is forecasting January export data to show exports at an estimated 1.056 mmt, down 35% from December. The decline is said to be attributed to the rush in Dec. to book cargoes ahead of Malaysia re-implementing an export tax in Jan.&nb...
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.