China’s domestic corn prices showed some volatility last week between northern and southern provinces as deep corn processors in the latter lacked sufficient supply. Meanwhile, producers in the northeast continue to suffer low returns as prices remain depressed. The mismatch had an impact across all regions. Oilseeds Soymeal Inventories Finally Reverse Course Since the week ending 12 August, China’s estimated total soymeal inventory had consistently fallen until the week ending 21 October when it showed an increase of 75,700 MT (+17.11 percent) from the previous week to 518,100 MT. However, that total was 190,000 MT lower (-26.83 percent) against the same week in 2015. In the north and east regions, soymeal inventories climbed to 93,800...
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.