Disappointing U.S. Soymeal Export Sales Last Week Yesterday’s USDA weekly export sales report indicated good sales for U.S. soybeans and soyoil last week, but those of soymeal were somewhat disappointing. Net soybean export sales totaled 2,139,300 MT, 23 percent above the past four-week average. As usual, China (1,576,200 MT) was the top destination followed by Taiwan (120,400 MT), Japan (82,900 MT), Spain (70,900 MT), South Korea (58,600 MT) and Germany (52,700 MT). Soybean exports totaled 2,522,600 MT, mainly to China (1,739,200 MT), Spain (146,900 MT), Mexico (112,500 MT), Thailand (81,300 MT) and Vietnam (73,300 MT). Soymeal export sales totaled only 142,800 MT for shipment in 2017/18, mostly to Mexico (64,300 MT), the Philippi...
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.