The Russian Ministry of Agriculture reported that 10.73 MMT of grain were exported as of 24 September 2014 and from the beginning of MY 2014/15 (26.6 percent more than during the same period in MY 2013/14). Russian Grain Markets Harvest Update According to the Russian Ministry of Agriculture, 96.1 MMT of grains and leguminous crops were harvested from 38 million hectares (81.4 percent of the target) as of 29 September. Included were 57.8 MMT of wheat (2.74 MT/hectare), 20.3 MMT of barley (2.4 MT/hectare) and 4.3 MMT of corn (4.9 MT/hectare). Also produced were 5 MMT of sunflower seed from 3.2 million hectares (1.58 MT/hectare) and 918,100 MT of soybeans from 693,100 hectares (1.32 MT/hectare). Market Trends: 22-26 September 2014 GEOGRA...
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.