GOOD MORNING, Prices are mixed this morning with short-covering in corn and wheat, and continued selling of oilshare. China is back from holiday today and could be under the market on the return. Crush margins in the US continue to head lower, which could begin to impact US bean demand. Corn and bean crops may show an improvement ahead of crop progress at 3:00pm central time. Today is position day ahead of deliveries and first notice day tomorrow. For the time being, there are 11 SRW, 17 HRW, 511 meal, and 3,495 soyoil. There are no bean or corn receipts. Tomorrow is the June Stocks/Acreage report, which is typically a market mover. Funds sit extremely short corn, shorter...
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.