GOOD MORNING, The markets continue to monitor the pace of demand, weather, and the overall production possibilities for the Corn Belt. However, it was a different story that has the market worked to the upside this AM. Grains and soy are higher this morning as US Treasury Sec Mnuchin said he and US Trade Rep Lighthizer will visit China on Monday for further talks and expects more negotiations in Washington DC after their visit to China. Though the renewal of trade negotiations was known before the close yesterday, it was once again the Dow that had the largest reaction. Additionally, 5 Chinese crushers have been told by China's state planner that they could apply for exemptions from the 25 percent tariff on s...
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.