GOOD MORNING, Prices are leaning lower in the overnight session as the much talked about first notice day is here. Soyoil and beans traded lower into delivery, which were a bit heavier than expected for the soy complex. Beans saw pressure from lower soyoil yesterday where May nearly traded limit down. Word of more US bean imports from Brazil cross the news-wires, as US crushers need beans June forward. There are rumors that China is cancelling Brazil beans and looking to buy US Oct/Nov. In the big picture, beans continue to see support from tight supplies, positive crush margins, and firm domestic cash basis. USDA March crush will be released on Monday, where advertised estimates are for the crush...
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.