THE OPEN Jan beans: 1 1/4 higher Jan meal: .90 higher Jan soyoil: 39 lower March corn: 1 1/2 higher March wheat: 5 3/4 higher The markets opened mixed with the theme of the week that of liquidation. Short-covering was noted for corn with a buy grains/sell soy spread trade. Oilshare corrected to the downside as negative chart patterns and a large long combined to pressure prices. Wheat continued to trade higher on positive chart signals and buy wheat/sell corn trade. News stories are more optimistic as regards US/China negotiations, with China reportedly raising penalties on violations of intellectual property rights while also looking at lowering the thresholds for criminal punish...
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.