SPREADS July crush falls lower to 47.88c/bu while oilshare trades to 38.47% from values that were over 40%. July/Nov bean inverse is softer, closing on the low of 1.78 1/4c from 1.84 3/4c. May/July bean inverse trades from 9 1/2c to close at 8 1/2c. July/Dec corn trades from 70 1/2c inverse to close at 66 1/2c. May/July corn trades from 17c to close on its low of 15 3/4c. July/Dec meal closes on its inverse low of $28.90 from $31.90. PALM OIL June up 60 ringgits to end at 3.752 ringgit/mt. NEWS Stocks are 157 pts lower with the US dollar firming to 92.93, and crude oil prices back to $61.77/barrel. CALLS Calls are as follows: beans: 3-4 lower meal: 4.00-4.40 lower soyoil:  ...
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.