THE OPEN March beans: 14 lower March meal: 3.00 lower March soyoil: 33 lower March corn: 4 1/2 lower March wheat: 14 lower The markets opened lower as expected with funds in liquidation mode. Weaker outside markets, lockdowns, and coronavirus turns prices lower, creating more pressure as selling continues throughout the session. Funds are longest corn, then the soy complex with wheat about even. The negative seasonal for the Jan/Feb time period is beginning to play out. Strong export sales for everything but wheat were only used as a jumping off point for the bull in lieu of technical weakness, and would not be surprised to see open interest for this week showing new established sh...
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.