Wheat: Net sales of 326,100 metric tons (MT) were reported for delivery in marketing year 2020/2021. Corn: Net sales of 599,200 MT for 2019/2020 were up 66 percent from the previous week and 30 percent from the prior 4-week average. Soybeans: Net sales of 952,200 MT for 2019/2020 were up noticeably from the previous week and up 60 percent from the prior 4-week average Soybean Cake and Meal: Net sales of 124,400 MT for 2019/2020 were down 13 percent from the previous week and 9 percent from the prior 4-week average. Soybean Oil: Net sales of 28,900 MT for 2019/2020 were primarily for unknown destinations (19,000 MT), the Dominican Republic (8,500 MT), Canada (900 MT), and Mexico...
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.