SPREADS March crush firms to 1.06c/bu while oilshare trades back over 34.0% to 34.11%. Dec/March continues to widen trading back out to 9 3/4c. March/May corn trades from 5 1/2c to 6c. March wheat/corn trades form 1.49c up to 1.51 1/2c. Jan/March beans still a fairly wide 14 1/4c to 14 1/2c trade, while March/May trades from 14 1/2c to 15c. PALM OIL Feb. closed up 43 ringgits, with cash offers up $5.00. Malaysian palm oil stocks dropped 5.7% in Nov as production was 10% lower on the month. Stocks are at a 16-month low. Poll of analysts expect the Malaysian Palm Oil Board data to be released on Dec 10 to estimate end of Nov palm oil stockpiles at 2.22 mmt, down 5.7% from the prev...
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.