GOOD MORNING, Prices are mixed this morning with wheat futures setting new highs again this morning while meal corrects to the downside against soyoil. Wheat is higher on rising domestic Russian prices and adverse Black Sea weather. Beans have been mixed with China on holiday and better rainfall noted for dry Brazilian areas over the weekend. Corn prices are steady following wheat. All markets seem to be getting a lift from reports that President Trump is doing well. Price action will be dominated as we go through the week by guesses in front of the October USDA report this Friday at 11:00 central time. StoneX forecast corn yield at 179.0 bpa, with a 14.94 bln bu crop. Linn and Associ...
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.