Wheat: Net sales of 473,200 metric tons (MT) for 2021/2022 were up 11 percent from the previous week and 44 percent from the prior 4-week average. Corn: Net sales reductions of 88,500 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average. Soybeans: Net sales of 62,000 MT for 2020/2021 were up noticeably from the previous week, but down 22 percent from the prior 4-week average. Soybean Cake and Meal: Net sales of 68,300 MT for 2020/2021--a marketing-year low--were down 3 percent from the previous week and 70 percent from the prior 4-week average. Soybean Oil: Net sales of 700 MT for 2020/2021 were down noticeably from th...
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.