Overnight and again during the day session, grain and soy futures traded both sides in light holiday-type volume. The corn market was the most placid with a trading range of only 5 cents, but it did manage to close in the green about 2 cents higher. General Comments U.S. grain and soy futures markets will close early at 1:00 pm (EST) tomorrow for the Christmas holiday. They will remain closed on 25 December (Christmas Day) and reopen again at 9:30 am (EST) 26 December. USDA's weekly export sales report and CFTC's weekly COT report will be delayed until next Monday as a result.USDA's quarterly hogs and pigs report showed that as of 1 December, the U.S. inventory of hogs and pigs was up 2 percent from a year ago, which was close to what was...
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.