Corn With the soybean harvest nearly finished (98 percent), Argentina’s corn harvest is moving faster now. The weekly progress was 8.4 percent, considerably higher than the 3.5 percent of the previous week. So far, 55 percent of the area has been harvested. The arrival of corn trucks to ports increased, but it seems like it should have been higher given the increased harvest pace. It seems many farmers are immediately storing the crop in silo bags. Despite this move, WPI expects the flow of trucks to ports to increase significantly this week. As harvest started moving South, there should be an increase in volume going to Necochea and Bahia Blanca ports, which will hopefully ease the vessel line up. Even so, the supply of corn...
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.