GOOD MORNING, Prices are mostly higher this morning, with soyoil futures lower. Oilshare sees a bit of profit-taking as crude oil prices remain defensive, and canola is lower. Meal prices are higher as values nearly cycle down towards its contract lows, and a full cycle from the rally peak. Corn firms on short-covering, attempting to perhaps establish a season low. Corn lows finally stimulate a bit of business, with South Korea and Taiwan in for some. EIA will be released today, and production and demand will continue to head to lower ground given the direction of crude oil. Ethanol stocks may put in a 5% build WOW. More plants are shutting down or idling, as more are losing about $1/bu processed, or ove...
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.