The CBOT jumped higher overnight after news broke Monday afternoon that Russian President Putin announced he would recognize the independence of two separatist regions of Ukraine: Donetsk and Luhansk. Putin quickly followed with an order to send Russian troops into the regions, a move considered the first effort at a Russian invasion. The news prompted a wave of global reactions: Germany halted efforts to open the Nord Stream2 pipeline, the U.K. announced sanctions against five Russian banks and three high-net-worth individuals. Crude oil futures rallied to near $100 on the news and CBOT wheat, corn, and soybeans all pushed sharply higher overnight. The CBOT opened the day session on a firm note but found its most substantial gains i...
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.