GOOD MORNING, The markets will open mixed but not before corn, soyoil, and beans post new contract highs. The bull markets continue on the back of continued dry weather in SA, which puts beans into further rationing mode. However, the markets remain overbought and soyoil and wheat are solidly lower. Chinese Ag futures are also higher for beans, corn, and meal, as US prices tag along for the ride. Oilshare sees profit-taking heading into the shortened week, while traders are back to selling wheat against corn and beans. The Argentina strike continues with more ships waiting to be loaded, with sources saying that as many as 170 ships are in line. The government called for a meeting on Tuesday to neg...
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.