Corn Argentina Argentina’s weather has been ideal for harvesting but farmers are still focused on soybeans. This week’s corn harvest progress was just 3.2 percent, compared to more than 20 percent for soybeans. With last week’s progress, farmers have harvested 23 percent of the corn area, down 15 percent from last year’s progress. Weather forecasts call for nearly ideal conditions in the coming week, which should allow another week of strong progress harvesting soybeans. That will bring Argentine farmers closer to resuming the corn harvest. FAS prices are following the bullishness of global markets. Prices are climbing in step with the CBOT and exporters are fighting for corn for all...
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.