U.S. Soy Export Sales Continue Seasonal Decline Today’s USDA weekly export sales report for the week ending 8 April shows a continuation of the seasonal decline in sales of soybeans, soymeal, and soyoil. That was to be expected considering the price premium for U.S. soy over that from South America and the very tight soybean stocks situation expected in the U.S. this year. Net sales of soybeans last week for export in 2020/21 totaled 90,400 MT. The top sales were for Indonesia (79,500 MT), South Korea (29,600 MT), Vietnam (25,600 MT), Mexico (15,700 MT), and Japan (12,700 MT). Those sales were partially offset by reductions of 55,000 MT for China and 45,000 MT for unknown destinations. Net sales for shipment in 2021/22 totaled 265,5...
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.