Russian Grain Markets: 19 – 23 October 2020 Russian domestic market wheat prices continued to increase; barley and corn prices started growing very fast. Meanwhile, export milling wheat average prices grew to $257/MT FOB Black Sea. The average purchase price grew to RUB 18,100 /MT. Feed barley average export price grew to $212/MT FOB Black Sea, while the average purchase price remained at RUB 14,600/MT CPT-port Black Sea. New harvest feed corn average export price sharply increased and amounted to $232/MT FOB Black Sea. GEOGRAPHICALLY 3rd grade soft milling wheat prices grew in all regions, most of all in the Southern region (+RUB 750/MT), Central (+RUB 335/MT), Volga Valley and Black Soil (+RUB 400-425/MT), Ural (+RUB 740/MT...
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.