GOOD MORNING, Prices are mixed this morning as weaker energies weigh on corn and soyoil. Corn slips to new contract lows as ethanol margins are in the red. There are some discussions about ethanol plants being idled as margins sink. Oilshare weakens as meal jumps higher against weaker soyoil. Beans get some help from higher meal, trying a bit to create a chart bottom. Constructive factors for beans include lower SA production estimates as dryness has impacted various regions. While total output will be large, Argentine bean losses are now in the 3-4 mmt area. Brazil estimates are coming down from a record large 125-126 mmt to 122-123 mmt, as Rio Grande do Sul is estimated to have loss...
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.