USDA forecast decreased ending stocks for U.S. corn. U.S. corn production is estimated at 14.182 billion bushels was reduced by 324 million because of lower U.S. yield results and a slight reduction in harvested area. On the other hand, U.S. corn use is down 250 million bushels to 14.575 billion. U.S. corn exports are down 100 million bushels, reflecting sharply lower supplies and higher expected prices. Corn used for ethanol and domestic feed are reduced. However, supply fell more than use and U.S. corn stocks are lowered 150 million bushels to 1.552 billion. The season-average corn price received by producers is raised to $4.20 per bushel. Global coarse grain production for 2020/21 is forecast down. Foreign...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.