SPREADS Dec. crush trades to 1.23c/bu while oilshare trades below 31.0% to new lows of 30.89%. Spreads remain strong with Dec/Dec trading to a 12c inverse from 8 1/4c, while Dec/March trades into a new high at 3c to 4c. Dec/March wheat inverse to 1 1/4c inverse from carry. Dec wheat/corn trades from 2.16c down to 2.11 3/4c. Nov/Jan trades either side of even, closing at a slight carry. November liquidation continues as prices head into mid-Oct. Jan/March inverse trades from 16 3/4c high this AM to 13 1/2c. Dec/March wheat trades from $15.90 inverse down to $14.00. PALM OIL Dec. closed up 3 ringgits. Palm oil imports by India slumped by 27% on YOY terms to 643,994 mt, according t...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.