What analysts have missed, or at least ignored, is that China replaced U.S. corn imports with U.S. sorghum over the past 12 months on an almost one-for-one basis before its recent approval the MIR162 corn variety.China's rejection of the Syngenta GM corn variety MIR162 a year ago dominated the headlines for a long time because of its impact on U.S. corn exports to China. That was one of the major bearish market factors of the past 12 months. It was news again last week when China finally decided to approve the variety. Many believe this will open the door for U.S. corn shipments to China and that DDGS exports will also continue. What analysts have missed, or at least ignored, is that China replaced U.S. corn imports with U.S. sorghum...
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.