SPREADS March crush drops to 78c/bu while oilshare trades to 33.29%. Spreads which were stronger remain in congestive mode. The July/Dec corn inverse trades down to 46 3/4c from 49 3/4c, but is still very strong. March/May corn trades from 1 3/4c inverse to 1/4c. March/May beans trades from 2 1/4c inverse to 1 1/4c. March wheat /corn trades from 1.66c down to 1.59 3/4c. PALM OIL March up 32 ringgits. The head of the Malaysian Palm Oil Council said they expected exports to India in 2021 to remain strong vs. the 2.43 mmt in 2020. Exports to China in 2021 are expected to be challenging due to alternative vegoils prices lower. Exports in 2020 were 2.83 mmt. NEWS The stock market is down...
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.