Markets were all slightly higher during the first half of the Sunday evening session and then faded as the sun began rising to finish lower. Soybeans and soymeal then reversed that trend this morning. General Comments Markets were all slightly higher during the first half of the Sunday evening session and then faded as the sun began rising to finish lower. Soybeans and soymeal reversed that trend this morning to trade higher much of today with corn and wheat lower. USDA announced the sales of another 261,000 MT of soybeans to China and 126,000 MT to unknown this morning.The next major hurricane is Maria, and she is building strength rapidly with Puerto Rico apparently the primary target area. Today’s forecasts then push the storm north an...
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.