Soybeans set new contract lows today by a wide margin, dropping to $9.34. Wheat stabilized on news that Egypt had purchased a cargo of U.S. wheat for the first time since last October. General Comments Soybeans opened lower Sunday evening with corn actually steady and wheat higher. That opening set the pattern for trade through the balance of the night and into today's trading session. About the only change was a weakening in the soy complex. Soybeans set new contract lows today by a wide margin, dropping to $9.34. The bearish soybean news was simply more weekend reports that soybean yields were staying big wherever the harvest was underway. Wheat stabilized on news that Egypt had purchased a cargo of U.S. wheat for the first time since l...
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.