SPREADS First notice day for November contracts is tomorrow, with the NOv/Jan trading out to 15 3/4c in the pm session. Jan/March beans go with the flow weakening out to 13 1/2c from 12 3/4c. Dec/March meal trades from $6.20 to $6.30. Dec wheat /cron trades from 1.21c to 1.23 1/2c. PALM OIL Dec up 86 ringgits, up 3% to hit an 18-month high, as funds in China purchase the market. Chinese open interest for this ctr is at record highs. Malaysia economic minister suggested that Indonesian palm oil supplies are not enough to cover India's shortfall, and predicted that India's boycott of palm oil will be short-lived. NEWS Stocks are slightly firmer to begin the morning trade...
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.