Palm oil futures prices rose today to a two-year high as a result of increased exports and expectations that production will decline because of reduced rainfall associated with El Nino. Meanwhile, tightening palm oil supplies are having a positive impact elsewhere. U.S. DDGS Exports to China Continue to Decline China’s DDGS imports fell to 180,337 MT last month, 38 percent below January and the lowest level since February 2015. The reason for the decrease is the ongoing Chinese anti-dumping investigation to determine if U.S. DDGS exports are being sold below market prices. China is by far the world’s largest DDGS importer.Buyers in China are reluctant to import U.S. DDGS because they run the risk of having anti-dumping duties collected re...
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.