Mediocre Soy Export Sales Again Last Week Today’s USDA export sales report indicated last week was mediocre for U.S. soybeans, soymeal and soyoil. However, sales announced separately this week suggest the next report will be substantially better. Today’s report indicated last week’s net soybean export sales totaled 942,900 MT. That was 9 percent better than the previous week but 25 percent below the past four-week average. Over 76 percent of total sales were to China (717,700 MT) with other sizable purchases made by the Netherlands (85,100 MT), Vietnam (73,600 MY), Turkey (43,100 MT) and Japan (41,000 MT). Soybean exports totaled 2,203,100 MT, and 78 percent went to China (1,716.500 MT). Net soymeal export sales last we...
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.