Weather problems have taken the edge off yield potential for some of Canada's spring-sown crops, particularly one. There is also another element that cannot be measured by production volumes and therefore cannot be captured by estimates,Statistics Canada released its first crop production estimates for the 2016/17 crop cycle this morning, which are based on surveys taken between 21 July and 4 August. Following is a summary:Canada’s spring-sown crops generally got off to an excellent start, raising hopes for big production in 2016/17. However, recent weather problems have taken the edge off yield potential for some, especially canola. Persistent rainfall over the Canadian Prairies during the last few weeks has likely clipped yields for sprin...
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.