SPREADS July crush falls to 74.32c/bu while oilshare trades higher to 42.24%. Bull spreads see more strength with Jul/Nov beans trading up to 2.04 3/4, past the prev. high of 2.00c. July /Dec meal trades to a new high of $29.60 inverse from $25.70. July/Dec corn trades to a high of 1.16 1/2c from 1.11c. July wheat/corn trades from 18 1/4c to 13c. PALM OIL Holiday. Trades will resume on Monday, May 17th. NEWS The stock market is lower down 100 pts, with crude oil prices rising to $66.31/barrel, and the US dollar firming to 90.65. Consumer prices jumped in April as the economic rebound and supply disruptions drove up prices for goods and services. US consumer prices surged 0.8% in April, an...
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.