GOOD MORNING, This week featured further contract highs and new highs for most of the markets on trading ranges. Funds will head out longer than a week ago, possibly up to 220K corn contracts, though the Commitment-of-Traders report will clarify. No doubt the weaker US dollar is the underlying positive macro trade, while good demand and tighter carryout provides the fundamental justification. In terms of exports, corn sold and shipped for 20/21 is at 28.33 mmt vs. 10.86 mmt year ago. The unpriced consumer is feeling the pinch as higher prices become a day- to- day occurrence. Grains are higher this AM led by wheat. Technically, Dec. wheat found some sell-stops through $6.21 without much downside f...
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.