Russian Grain Union leader Arkady Zlochevsky says Russia could export a record 60 MMT of grain this season. At the same time, he says the Black Sea grain corridor deal has not yielded anything positive for Russia. So Russia is exporting record amounts and doesn’t appear to need any special treatment. China will likely backward engineer and supply whatever Russia’s needs to keep its farm machinery running. Verbio, the largest maker of biofuel in Germany says, “We have to eat less meat” and instead make more crop-based biofuels. The meat industry says we need more food and to stop burning precious grain as a competitor to petroleum. The European Parliament approved a plan that is to ensure imports of palm oil,...
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.
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...