A combination of low commodity prices and an early Chinese New Year helped U.S. agricultural exports to China reach new heights in January. Meanwhile, Chinese farmers have suffered acutely from Beijing’s efforts to reform its domestic corn market.
Market Trends Total U.S. Agricultural Exports Reach New Heights in January A combination of low commodity prices and an early Chinese New Year helped U.S. agricultural exports to China reach over 6.09 MMT in January, a record for the month that surpassed the previous all-time high of 5.77 MMT set in 2014. By contrast, those low commodity prices resulted in a total value of just $2.82 billion, the third-best for the month of January overall. Compared with this past December, tota...
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...