Wheat: Net sales of 659,700 metric tons for 2019/2020 were up 90 percent from the previous week and 74 percent from the prior 4-week average. Corn: Net sales of 121,200 MT for 2018/2019 were down 39 percent from the previous week and 59 percent from the prior 4-week average. Soybeans: Net sales reductions of 78,200 MT for 2018/2019 resulting in increases for unknown destinations (57,700 MT), South Korea (26,000 MT, including 25,000 MT switched from unknown destinations), Indonesia (21,800 MT, including decreases of 2,100 MT), Malaysia (7,200 MT), and Vietnam (2,400 MT), were more than offset by reductions for China (148,400 MT), Taiwan (27,200 MT), and Canada (18,400 MT). Soybean Cake and Meal:&n...
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.