Wheat actually traded higher much of today's session on news that Saudi Arabia did buy 345,000 MT of optional origin hard wheat. However, it couldn't withstand the selling pressure in the corn and soybean markets and turned lower just before noon. General Comments Markets were steady to soft at the beginning of this holiday-shortened Thanksgiving week in the U.S. Trading volume overnight and today was very light. Markets will be closed Thursday and not open again until Friday morning before closing at 1pm (EST) that day.There were some export announcements from USDA this morning that included 235,000 MT of soybeans, 174,000 MT of soymeal and 116,000 MT of sorghum.U.S. financial markets showed very small gains for most of today's session...
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.