With harvest beginning to pick up along with USDA’s quarterly stocks report and final small grain summary due out on 29 September, there is little incentive to establish new positions. The result is the sort of listless, choppy, low volume trade that occurred today. General Comments Grain and soybean futures prices traded slightly lower overnight, taking back some of Wednesday’s gains amid a modest increase in trading volume. Those slightly lower prices continued to prevail early in the day session, but volume slackened. About mid-session, prices recovered enough to push into the green, and there they stayed for most of the remaining session. Basically, it was a dull session in which buyers and sellers appeared equally disinterested. With...
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.