There was a great deal of movement this week in the Argentine soybean market with five to seven trades completed at levels of -2 FOB for 15 April and 58 SN CNF for 15 May and June. While demand is looking for all positions from 15 April to July, the market is expected to show a 2-3 cent carry per month from May to July. Soybeans China became fully active this week, probably because of its pending New Year that begins 7 February. There was plenty of demand focused on nearby positions from January to March, although some April and May cargoes were traded as well. The Chinese have seen improved crush margins at a gross estimate of $10/MT for March and $15/MT for April/May shipments. This brought them to buy some slightly deferred cargoes wit...
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.