The old crop corn market remains totally quiet with a few sellers ready to trade at $0.90 over December futures for October and November and with a few cents carry for December/January shipment. The main problem is that U.S. corn is much more competitive and leaves no demand for Argentine origin. Soybeans Activity resumed this Monday with the Dalian Exchange’s return to business after the conclusion of last week’s holiday in China. During the lackluster holiday week, basis decreased in the U.S. due to lack of demand. However, sellers were expecting bids this week as Chinese crush margins were expected to be very good. Some bids have been received thus far, but demand has not been as active as expected, which is a big concern as there is s...
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.