USDA’s June WASDE to be released today is not expected to provide much excitement. The new U.S. corn and soybean crops have been seeded in a timely manner with corn planting essentially finished and soybeans nearly so. USDA/NASS have little reason to change their May projections on yield or acreage in the June WASDE. The” final” planted acreage estimates are due at the end of this month, and they will be incorporated in the July WASDE. USDA’s supply/demand estimates will no doubt see some slight jiggling. U.S. soybean exports and the use of corn for ethanol in 2019/20 should both be lowered, and this would lead to increases in ending stocks. Grain and soy market watchers will be interested to see USDA&rs...
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.