Larger China Soybean Crop Results in Lower Prices Last year China decided to boost its support to farmers growing soybeans while simultaneously reducing that provided for growing corn. The objective was to begin to reduce corn production in order to lower its huge stocks as well as decrease soybean imports. However, it appears the new policies may have the opposite effect. In Heilongjiang Province, the government reduced the payment for corn by 13.3 percent this year to about $303/hectare, and the payment for soybeans was increased to about $394/hectare. China’s soybean production this year is forecast to rise 11 percent from last year to 14.4 MMT, largely because of the higher subsidy. Because most of China’s domestic soybean...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.