SPREADS May crush takes a big hit, falling to 84c/bu, while oilshare trades lower to 33.48%. July/Nov beans trades from 10c to 11 1/4c. July/Dec corn trades inside the same range as it has been from 1 3/4c to 3c. March/May meal widens out to $6.00 again from $5.90. May wheat/corn trades from 1.62 1/4c down to 1.53 1/4c. March/May wheat trades from 1 1/2c to 2 3/4c inverse. PALM OIL May futures closed 104 ringgits lower, with cash down $17.50/MT to a 4-month low on lower exports and higher output. Palm oil touched the lowest price since November 2019. Market is expecting February output to rise 11- 17%. NEWS The stock market is up 128 points today after falling over 1,000 points yesterday. Crude is mixed, trading down to $51.07/ba...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.