The USDA report has come and gone, and prices will respond to weather and crop conditions. So far, those conditions have been excellent, with corn and bean ratings very high. In a recap, some highlights from the report: Corn: 2019/20 production was lowered by 45 mln bu to 13.6 bln bu, with harvested area lower by .1 mil acres and yield by .4 bpa to 167.4 bpa from the re-survey of North Dakota. Ethanol was an expected negative with 19/20 lowered by 50 mln bu to 4,900 mln bu., but could be the lowest number seen for 19/20. Old crop carry-out was raised by only 5 mln bu to 2103 mln bu, 50 mln bu below expectations. World carryout at 312.9 mmt was below expectations. 20/21 carryout was higher by...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.