China's state corn purchase program for temporary reserves was estimated at around 83.4 MMT as of 30 April, a significant change from last year. Meanwhile, subsidies for corn processors in Heilongjiang and Jilin Provinces were finalized last week. Oilseeds Soymeal Inventories Declined Again Last Week Last week's estimated soymeal inventories for China's major crushers dropped to 705,000 MT, a decrease of 10.8 percent (85,300 MT) from the week before. Overall, the total is now down 67.5 percent compared with the same week in 2014. Unlike previous weeks, all of the surveyed areas experienced declines this time. In north and northeast China, the estimated inventories decreased by 18.85 percent and 8.94 percent to 12,800 MT and 88,100 MT, re...
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 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.