SPREADS July crush trades higher to 61.63c/bu while oilshare trades to 38.41%. The July/Nov bean inverse weakens to 1.26 1/4c vs. 1.31c, while May/July bean inverse trades down to 3 1/4c from 3 3/4c. May/July meal carries trades from lows of $4.10 to $4.40. July/Dec corn inverse trades lower to 55 1/2c from 61 1/4c, while May/July inverse trades from 13c down to 12 1/2c. May/July wheat trades from 2 1/2c carry to 3 1/4c. PALM OIL June palm oil up 74 ringgits to 3,724 ringgit/mt. Malaysian Palm Oil stocks were larger than expected as published yesterday with March stocks up 10.7% to 1.45 mmt, which was a four-month high sponsoring yesterday's hard break. Production increased by 28% to 1.42 m...
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.