SPREADS July crush trades to 1.03c/bu while oilshare is weaker this morning with prices trading to new lows of 29.69%, under the prev. 30.0% benchmark. Bean spreads snap back from lows in July/Nov yesterday that pushed out to 14c to narrow into 8c. July/Dec corn carry widens out to new lows at 18 1/2c from 12c as prices collapse on new selling hardest in the May contract. May wheat/corn moves to 1.66 1/2c from 1.53 3/4c as corn prices fall vs. higher wheat. PALM OIL June up 34 ringgits. Malaysia directed palm plantations to continue operations even as the country shuts businesses to prevent the spread of coronavirus ensuring steady supplies to global markets. NEWS Coronavirus continues to...
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.