Soybeans Market Update Last week China finally decided to buy more U.S. soybeans, purchasing approximately 2 MMT. The stocks were mainly from the Pacific Northwest (PNW), but there was some volume from the U.S. Gulf (USG). The trades were around 148/150 for PNW and 162/160N for USG, all performed as CNF. These were far more expensive than Brazilian offers for those positions. Brazil can sell July at +140N CNF China and June at +130N. Those prices are 20-30 cents cheaper than USG without considering any quality discount for the Gulf basis, which normally is around 5 cents/bushel. Brazil The Brazilian market was very slow last week as trading houses were waiting for China. Finally, China moved on June forward, leaving space for Brazil to...
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...
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Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.