SPREADS Jan crush firms to 95c/bu while oilshare trades up to 34.46% (heading to 35%?). Nov/Jan bean spread trades back out to 12 1/2c from 11 1/2c as Cargill puts out bean receipts they stopped. Jan/March beans trades out to 13c in spill-over with Nov/Jan. Dec/March corn trades back out to 10c from 8c, where traders locked in profits, and others initiated bear-spreads. Dec 19/Dec 20 corn trades out to 25 1/4c from 23 3/4c. Dec wheat/corn trades from 1.31 1/4c to 1.32 1/2c. PALM OIL Jan closed 55 pts higher, at 2,628 ringgits. Malaysian Palm Oil Board forecast Oct. production at 1.795 mmt, below 1.879 expected. Oct. exports were 1.641 mmt, above the expected 1.593 mmt. Stockpiles wer...
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.