GOOD MORNING, Prices were higher yesterday post report, with follow-through activity this morning. Breaking it all down we find the following: Corn: Sep. 1 stocks at 1995 mbu was 225 mbu below the average trade guess, and 258 mbu below the Sep. WASDE carryout est at 2253 mbu. Final 2019 corn production was raised by only 3 mbu to 13.6 bbu, with yield at 167.5 bpa. Implied Q4 feeding was estimated at 933 mbu vs. 912 mbu year ago. 19/20 corn feeding was 5861 mbu vs. current USDA at 5600 mbu. Feeding in the Oct. WASDE could be higher as a result of the Sep. 1 stocks report. Beans: Sep.1 bean stocks at 523 was 53 mbu below the average trade guess, and 52 mbu below the Sep. WAS...
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.