Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Morocco is said to be the destination for the first grain shipment from Thunder Bay, Canada after the long winter period when shipments from the Great Lakes are not possible. Egypt reports that about 1.4 MMT of local wheat have been purchased so far this harvest, up significantly from just 200,000 MT as of the same date a year ago. Additional information on U.S. sorghum shipments originally destined to China indicates three cargoes have been rerouted to Saudi Arabia and one to Japan. The price to Saudi Arabia was said to be $190/MT CNF, which will probably mean losses to the shippers of more than $60/MT. It is also reported that some buyers in China have asked the government not to app...
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.