GOOD MORNING, Prices continue to rally led by the wheat market. Russia plans to raise its wheat export tax to 50 euros/ton from March 1-June 30, from the €25/MT tax set for Feb. 15 to March 1, as reported by the Economy Minister. Wheat is higher this morning trading to new contract highs. Better rains in SA find bean prices on the retreat today, while sharply lower palm oil prices pressure soyoil. Oilshare is weaker again. Beans will be supported by China still needing supplies, with the same for corn. The International Grains Council pegged worldwide 20/21 grain output at 2.21 bln mt, with 20/21 total grain consumption at 2.216 bln mt. The International Grains Council pegged worldwide corn o...
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.