The remaining exportable wheat surplus in Serbia totals about 800,000 MT with approximately 500,000 MT exported since the start of the campaign. Despite the low prices, farmers started selling their stocks in recent weeks as they still have a great deal to trade, and the new crop is coming in just five months. Milling Wheat The Black Sea market is under pressure in sympathy with French, German and UK wheat. The 11.5 percent protein Ukrainian origin dropped about $6 from last week, mainly due to the lower UAH versus the USD. The offered volume of Russian 12.5 percent protein is limited and priced only about $2 lower than the week before.Egypt’s GASC purchased 300,000 MT of wheat last week at the average price of $185.46, approximately $8 l...
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.