Export Sales and Shipments for July 14-20, 2023 Wheat: Net sales of 233,200 metric tons (MT) for 2023/2024 were up 37 percent from the previous week, but down 17 percent from the prior 4-week average. Export shipments of 395,100 MT were up 67 percent from the previous week and 46 percent from the prior 4-week average. The destinations were primarily to the Philippines (154,400 MT, including 29,700 - late), South Korea (78,000 MT), Mexico (50,200 MT), Honduras (30,000 MT), and Nigeria (28,100 MT). Corn: Net sales of 314,200 MT for 2022/2023 were up 33 percent from the previous week and 15 percent from the prior 4-week average. Export shipments of 411,400 MT were up 7 percent from the previous week, but down 25 percent from the...
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.