As it always does, USDA used its Annual Outlook Forum last week in Washington, DC to update its 10-year baseline projections. The trade of course pays the most attention to those for the coming marketing year. WPI published its initial 2019/20 U.S. supply and demand estimates for corn, soybeans and wheat in January. The table below shows a comparison of WPI’s initial numbers versus those just released by USDA.
WPI’s opinion in January was that soybean acres would not shrink as much as many analysts expect, which would also mean that corn acreage would not increase as much as anticipated. We still believe that today, especially considering the positive news surrounding the U.S.-China trade talks. The soybean market has been un...
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...
