SPREADS March crush trades to 1.00c/bu while oilshare trades down to 33.55%. Jan/March beans remains weak trading out to 14 1/2c from 14 1/4c. Jan/March meal trades from $2.80 out to $3.00. March wheat/corn trades from 1.52 1/4c to 1.53c. Dec/March wheat narrows into 3/4c from 1 3/4c. Dec/March corn trades from 10c to 10 1/4c. March/May corn trades into 5 1/2c from 5 3/4c. Spread trades continues to consume the largest volumes for corn, with 72,859 ctrs of open interest coming out of Dec yesterday while March corn picks up 39.530 ctrs. March corn open interest now stands at 714,340 ctrs with July coming in second place at 220,849 contracts. Jan. bean open interest stands at 323,87...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.