Brazilian Farmers Investing More in Soybeans, Less in Corn Because of low corn prices and the necessity to treat soybeans for Asian rust, farmers in Mato Grosso as well as other states have apparently decided that it is wiser to attempt to maximize soybean yields than use their limited capital to invest about the same in both crops. They have sharply reduced their corn plantings in the current summer season because of poor profitability, and many expect an additional decrease in the safrinha season. One agricultural input supplier in Mato Grosso indicates sales of inputs for corn are expected to be down at least 10 percent in that latter season. Meanwhile, farmers there indicate they need a soybean yield of about 60 (60 kg) sacks/hectare (...
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.