The CBOT turned higher on Wednesday with another Russian attack on Ukraine’s Danube River ports and a hot, dry weather forecast for the Midwest offering support. Corn, soybeans, and KCBT wheat bounced higher off technical support while the CBOT wheat market traded either side of unchanged in lackluster trade. Funds were net buyers for the day and extended length in the soy complex after yesterday’s bullish NOPA report and pared back corn shorts on the U.S. weather forecast. Yesterday was the unofficial start of the new Midwest weather pattern, which will feature hot and dry conditions for essentially all areas west of the Rockies. The Plains and Midwest have been dry for over 24 hours now and the two-week forecast suggest...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.