Technical Perspectives will not be published on 24-25 December due to the Christmas holiday. THE OPEN March beans: 7 1/2 higher March meal: 2.40 higher March soyoil: 75 higher March corn: 2 3/4 higher March wheat: 9 1/4 higher The markets opened higher and remained well bid for the morning, with grains playing catch up to soy complex prices. The market was solidly bid around the board, with oilshare weakening a bit as meal prices traded into new highs as soyoil congested. The markets continue to display the components of a bull market with good volume, rising open interest, and new ctr highs. Markets are overbought and export sales were poor but did not make a dent as prices trend...
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.