SPREADS July oilshare rises to 38.65% and crush trades up to 59c/bu. Spreads are firmer with July/Nov trading up to 1.44 1/2c from 1.36 1/2c, and May/July bean inverse trading up to 7 1/2c from 5 1/4c. July/Dec meal inverse strengthens to $17.30 from $12.50 lows. July/Dec corn inverse trades from 51c closing at 55 1/2c, with a 56 1/2c high. May/July corn trades up to 14 3/4c from 13c. July wheat/corn spread trades from 64 1/4c to 60 1/4c. PALM OIL June up 53 ringgits ending at 3,792.00 ringgit/mt. NEWS Equities are lower this AM, down 40 ringgits, as the G20 convenes to discuss the uneven covid-19 recovery. The IMF forecast US GDP to grow at 6.4% in 2021 vs. 5.1% forecast back in January. ...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.