WPI’s Crop Progress and Conditions App provides visual snapshots of the latest USDA data on this year’s rain-delayed plantings. The pictures are striking (see graphs below) for how demonstrably they show the lateness of the soybean and corn crops in their maturation process.
While the bears are feeling justified by the improved weather of late, the final yields this year are going to look like the crop condition charts - suboptimal. For soybeans, a late planting tends to shorten the vegetative and reproductive growth stages. The result is reduced seed yield. It can impact the protein and oil content, but that will depend on the varieties that were planted. The state with the most acres planted to corn is Iowa and based on de...
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...
