The Brazilian soybean market has been reactivated for new crop. Fueled by the drop in CBOT soybean prices, buyers have been showing significant interest, and Brazil’s paper market increased sharply this week as Chinese crushers are entering the market. Soybeans The good news is that the truck strike by one of Argentina’s most powerful unions ended 22 July. However, no further movements have been noted as of yet. The continued drop in CBOT soybean futures further reduced farmer selling, turning FOB replacement close to 170 SQ for spot position. Argentina’s soybean market has remained quiet with no offers of old crop soybeans this week. Likewise, trading activity for new crop remains muted as there have been almost no offers, although some...
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.