OilseedsSmall Decline in Soymeal InventoriesAfter nearly a month of steady increases, the estimated soymeal inventories of major crushers fell last week to 1.31 MMT from 1.39 MMT two weeks ago (-5.83 percent). That total is 1.08 MMT or 45.23 percent lower than the same period in 2014. Meanwhile, downstream demand has risen in recent weeks. In fact, our recent research suggests that market reports in June had underestimated end user demand for the second-half of that month. Among the surveyed regions, eastern China and Guangxi District were the only two that experienced a decline in their soymeal inventories last week. The former's fell 11.92 percent from 795,800 MT two weeks ago to 700,900 MT last week, while the latter's inventory dropped...
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.