Wheat: Net sales of 621,700 metric tons for delivery in the 2018/2019 marketing year were reported for Mexico (156,600 MT, including decreases of 13,100 MT), South Korea (127,500 MT), the Philippines (85,900 MT, including decreases of 2,200 MT), Malaysia (62,400 MT, including decreases of 900 MT), and Egypt (55,000 MT). Reductions were primarily for unknown destinations (62,700 MT) and Japan (6,200 MT). For 2019/2020, net sales of 205,000 MT were primarily for unknown destinations (70,000 MT), Nigeria (48,000 MT), and the Philippines (45,000 MT). Exports of 621,200 MT were reported for the Philippines (142,900 MT), Mexico (97,000 MT), Indonesia (54,700 MT), Nigeria (47,700 MT), and Chile (46,700 MT). &nb...
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.