GOOD MORNING, The USDA report is out of the way, and the numbers were bullish for beans, and neutral to bullish corn. Wheat found some surprising bearish and bullish items, leaving price action open to current weather patterns. On Friday, USDA reported 2020 failed acres as of Oct. 1 as the following: wheat acres at 464,342 acres vs. 455,390 prev. bean acres at 20,950 acres vs. 21,208 prev. corn acres at 102,215 acres vs. 99,691 prev. Prevent plant acres as of Oct. 1, 2020 corn: 6.177 mln vs. prev. at 6.077 beans: 1.476 mln vs. prev. at 1.451 wheat: 1.270 mln vs. prev. at 1.268 Wheat prices remain well bid as the Black Sea remains dry and prices there continue to rise, hitting...
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.