SPREADS Corn spreads are firming with Dec/March narrowing back into 8 1/2c as the official roll for Dec contracts begins tomorrow. Dec 19/Dec 20 corn narrows into 17 3/4c from 20 1/4c. Jan/March beans widens out to 13c from 12 3/4c. Dec/March meal trades into $5.80 from $5.90, and values that were out to $6.80 at one point. Dec/March soyoil is trading 48/49 pts. Dec. crush trades up to 87c/bu while oilshare trades higher to 34.43%. PALM OIL Jan palm oil trades up 2.8% on the day. a poll of analysts expects Oct. palm oil production to be around 1.88 mmt when the data is released Nov 11 by the Malaysian Palm Oil Board. The survey expects exports for the month at an estimated 1.59 mmt, u...
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.