This week's Export Sales report from USDA offers insight into the grain market's likely price pattern going forward. Based on historic export patterns, U.S. exporters are facing a situation different from last year. Similarly, soybean sales point to changing opportunities for those in the oilseed industry.While very little attention is paid to Iran as a market for soybeans and soy products in the U.S., it is one of the world’s largest importers of soybeans and soymeal as well as a sizable importer and consumer of soyoil. Very Large U.S. Soybean Export Sales The USDA export sales report released last week indicated U.S. soybean export sales for shipment in 2017/18 were running 29 percent behind a year ago. The slow pace was disappointing a...
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.