SPREADS May crush falls to 97.88c/bu while oilshare strengthens to 32.57%. March/May corn trades to 2c inverse from 1 1/2c while July/Dec inverts to 1c from 1/2c. July/Nov beans strengthens into 1c from 3 1/2c. Bull spreads continue to be well supported given the lack of deliveries for wheat and corn. May wheat/corn corrects trading from 1.34 3/4c to 1.37 1/2c. July/Dec meal trades from $1.80 to $2.20. March /May wheat trades from a 2 1/2c inverse down to 1 1/2c. PALM OIL May closed up 22 ringgits, with cash offers $22.50/mt. Ahead of the monthly Malaysian palm oil board data, analyst's are forecasting end of Feb palm oil stocks at 1.73 mmt, down 1.4% from Jan figures.&nbs...
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.