Soybean futures exploded to near 20-cent gains on a warmer and drier weather forecast for the Corn Belt over the next 10-14 days. Wheat turned higher with the soybean rally that corn also tried to follow. General Comments Markets were mixed overnight but turned strong after this morning's opening. Soybean futures exploded to near 20-cent gains on a warmer and drier weather forecast for the Corn Belt over the next 10-14 days. Markets have been soft the last several Fridays, partially on the belief that crop ratings would improve in the following Monday reports. That hasn't occurred, and there was some concern today that next Monday's ratings might show some slippage. Trading volume today was above average.USDA will release its August WASDE...
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.