Shutdown of Argentine Port May Slow Soy Exports The mayor of the Argentine town of Timbues yesterday said that he would today suspend all operations at grain ports located there for two weeks to stop the spread of COVID-19. During the two-week period no trucks would be allowed to deliver grain or oilseeds to export terminals and soybean processing plants in Timbues. After the mayor’s announcement he was overruled by the governor of Santa Fe province and by the Argentine government. As a result, the grain elevators and crushing plants were continuing to operate today using commodities in their warehouses, but no trucks could deliver commodities to the facilities. More meetings between the mayor and provincial and federal authorities...
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.