Disappointing U.S. Soy Export Sales Last Week Today’s USDA export sales report indicated the week ending 20 February was not a positive one for exporters of U.S. soybeans, soymeal and soyoil. The most positive note was a relatively small sales of U.S. soybeans to China. Net soybean export sales for shipment in 2019/20 totaled only 339,300 MT. Sales for shipment in 2020/21 totaled 22,100 MT. The top sales for shipment in 2029/20 were for Japan (108,200 MT), China (71,700 MT), Costa Rica (69,500 MT), Germany (66,000 MT) and South Korea (58,400 MT). The sales and others were partially offset by reductions in sales to unknown destinations of 176,400 MT. The sales for shipment in 2020/21 were to Mexico (21,000 MT) and Japan (1,100 MT). S...
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.