Black Sea wheat prices were lower last week on farmer selling and lack of export demand. Soyoil is now priced at a discount to sunflower oil, ending an extended period of... Milling Wheat The Black Sea market was weaker last week due to increased farmer selling and lack of fresh export demand in the near term. Russian 12.5 protein FOB prices were $2/MT weaker for April/May shipment, despite the firmness of the ruble as domestic prices eroded further. Domestic prices have fallen between 500-900 rubles ($8 -$15) in one month. Many analysts still estimate Russia will export 28 MMT this year, roughly 3 MMT more than last year. In order to achieve such a program, Russia would need to export an average of 2.5 MMT per month until the end of the...
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.