Argentina's farmers have been seeking the recently enacted changes in the country's export policies to boost their incomes as well as improve their crop rotations. The big question is how much land will be planted to wheat, corn, soybeans and sunseed in the future. Survey Finds U.S. Farmers to Reduce Soybean and Increase Corn Plantings A Farm Futures survey of more than 1,550 U.S. farmers found that they plan to reduce their soybean plantings in 2016 to 82.2 million acres from last year’s 82.7 million acres. It also revealed that they intend to plant 89.5 million acres of corn this year, up from 88 million acres in 2015, as well as 13.3 million acres of spring wheat and 8.25 million acres of sorghum, a decrease of about 2.5 percent from l...
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.