Wheat: Net sales of 475,700 metric tons for delivery in the 2018/2019 were up 59 percent from the previous week and 15 percent from the prior 4-week average. Increases were reported for Mexico (153,300 MT, including decreases of 3,100 MT), Japan (75,500 MT, including decreases of 200 MT), Indonesia (67,000 MT, including 7,000 MT switched from Malaysia), the Philippines (50,000 MT), and Uganda (44,000 MT, switched from unknown destinations). Reductions were primarily for unknown destinations (13,400 MT). For 2019/2020, net sales of 35,400 MT were primarily for Colombia (11,100 MT), the Dominican Republic (8,400 MT) and Japan (8,000 MT). Exports of 424,200 MT were up 19 percent from the previous week, but down 29...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.