SPREADS July crush trades to 59.29c/bu while oilshare trades to 38.80%. The July/Nov bean inverse trades to 1.40 3/4c from 1.46 3/4c, while May/July trades down to 6 3/4c from 8 1/2c. July/Dec meal trades from $18.10 to $19.50. July/Dec corn trades from 58c to 60 1/4c, while May/July trades from 13 3/4c inverse from 13c. May/July wheat trades from 2 1/2c inverse to 2c. July wheat/corn trades from 77 3/4c to 70 3/4c. PALM OIL June up 43 ringtits at 3.845 ringgit/mt. SGS forecast palm exports for March at 1.245 mmt vs. their Feb. export estimate at 1.052 mmt. NEWS Stocks are on the defensive, down 40 pts, with the US dollar firmer at 92.41. Crude oil trades quietly with a low of $58.78/barr...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
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.