The Habit Burger Grill to Offer Impossible Foods Burgers
The Habit Burger Grill on Monday said it will offer two new sandwiches made with Impossible Foods Inc.'s plant-based burgers.
The Habit will introduce the Original Impossible Burger and the Impossible Bistro Burger, the restaurateur said.
STORIES OF INTEREST
Jollibee Could Start Covid-19 Recovery in 2021 -- Market Talk
0649 GMT - Jollibee's performance may start recovering next year as the impact of Covid-19 eases and it repositions itself for delivery and take-out services, Daiwa Capital says. Daiwa raises the fast-food company's stock rating to outperform from hold but cuts the target to PHP144 from PHP202, as headwinds will persist with about 15% of Jollibee stores remaining closed for the rest of the year. Daiwa lowers its 2020 and 2021 recurring net profit forecasts of the Philippines company by 93% and by 37%, respectively. Non-recurring expenses are likely to be high this year as Jollibee executes a PHP7 billion business transformation plan that includes revamping stores to focus on delivery and take-out, Daiwa says. Shares rise 1.9% to PHP132.50. (firstname.lastname@example.org)
Corn Outperforms Other Grains on Short Covering
Corn for July delivery rose 0.75% to $3.33 3/4 a bushel Monday on the Chicago Board of Trade amid short covering and favorable weather conditions.
Wheat for July delivery fell 0.73% to $5.11 1/2 a bushel.
Soybeans for July delivery were down 0.35% to $8.64 3/4.
Brazilian Currency Strengthens, Helps American Farmers -- Market Talk
14:30 ET - The Brazilian real strengths to levels not seen in months, which is a good development for American soy producers, American Farm Bureau Federation's Chief Economist John Newton tells WSJ. As the real gains value, exports become less profitable for Brazilian farmers in their local currency, leading them to ship less of their production overseas. "The weaker the Brazilian real, the worse for the American farmer," Newton said. He warns of other factors at play in global commodity markets, including impact of the coronavirus pandemic on demand. The real trades at 4.88 per dollar, a level not seen since March. (email@example.com; @ptrevisani)
Grain Inspections Fall Amid U.S.-China Trade Tensions -- Market Talk
11:43 ET - US grain export inspections fell last week from the previous one, while traders watch how Chinese imports react to trade tensions with the US. Soybean export inspections totaled 213,047 metric tons, wheat reached 432,919 metric tons, and corn was 1.1 million metric tons, the USDA said. Demand is seen as improving thanks to lifting Covid-19 lockdowns, but uncertainties arise from fears of a second wave as the disease spreads in emerging markets. "We will also continue to monitor Chinese trade developments as even with heightened tensions between that country and the US, we have seen soybean sales take place," AgriVisor says. (firstname.lastname@example.org; @ptrevisani)
Hogs, Cattle Stable Amid Slow Recovery -- Market Talk
16:43 ET - July hogs "are beginning to show some technical positive action," RJO Futures says, noting the packing industry "is making progress but at a slow pace." Prices were stable today, at 53.975 cents per pound. Live cattle were also stable at 96.325 cents per pound. RJO Futures says cattle markets are still weak despite some recent recovery from the worst of the coronavirus-related selloff. (email@example.com; @ptrevisani)
Estimated U.S. Pork Packer Margin Index - Jun 8
This report reflects U.S. pork packer processing margins. The margin indices
are calculated using current cash hog or carcass values and wholesale pork
cutout values and may not reflect actual margins at the plants. These
estimates reflect the general health of the industry and are not meant to
be indicative of any particular company or plant.
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jun 8 +$ 80.80 +$ 17.66
Jun 5 +$ 79.34 +$ 22.02
Jun 4 +$ 82.93 +$ 25.79
* Based on Iowa State University's latest estimated cost of production.
A positive number indicates a processing margin above the cost of
production of the animals.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
For Today Choice 114.5
(Percent of Year-Ago) Select 111.7
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell $6.90 per hundred pounds, to $254.58, according to the USDA. Select-grade prices fell $15.30 per hundred pounds, to $231.12. The total load count was 223. Wholesale pork prices fell $2.03, to $69.95 a hundred pounds, based on Omaha, Neb., price quotes.