Grain trading was mixed and moderate volume today with little fundamental news to shape the market’s direction. The weather is cold and rainy across the Corn Belt and is further delaying corn and soybean planting. Rain prospects for the U.S. plains are reduced which supported wheat markets today. Livestock futures were higher in slow trade as their recovery continues at a slow pace. Outside markets are higher with the Dow Jones and S&P 500 up over 1 percent each while the U.S. dollar index is steady in mixed trade. Gold futures are down slightly while WTI crude oil is up$0.31/barrel and Brent crude is $0.14/barrel higher. Corn May corn finished the day down 2 ¼ cents in lackluster trading with little fundamen...
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.