Ukrainian and Russian wheat exports to Asian countries hit a record in August versus the same month a year ago. Meanwhile, there has been a change in Syria's plan to purchase 1 MMT of Russian wheat, although there are differing views as to the reason why. Russian Grain Markets: 4-8 September 2017 Market Trends Prices continued to fall due to growing offer and despite the record volume of grain exports in August (4.9 MMT). Because of the strengthening of ruble, though, the decrease is not as significant when expressed in USD. GEOGRAPHICALLY 3rd grade soft milling wheat prices dropped in Volga Valley (-$0.70/MT), Central (-$2.00/MT), the South and Black Soil (-$2.60-3.00/MT), and Ural and Siberia (-$4.60-4.80/MT).4th grade soft milling w...
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.