GOOD MORNING, Prices remain in range-bound territory as most of the influential factors are out on the table. From this point forward it becomes solely about technicals and fund flows. In that regard, funds remain net short beans and corn, and prices may not relax until we get into the new year. Some non-traditional buyers of corn and beans are getting more coverage in front of Phase One, while oilshare remains on fire. The markets will open on a firm note. In terms of trade, the Phase One deal is due to be signed in January, as reported by US Treasury Sec. Mnuchin. As reported by Reuters, China's top Ag consultant JCI has confidence that China will make good on its commitment to purchase more than $40...
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.