GOOD MORNING! Yesterday's price action was higher in beans and corn with the latter finding a bit more hedging as prices regained the upside. Sharply higher soyoil prices led the way in terms of board strength, giving beans a reason to stay well supported, and is certainly the stand-out feature of trade today. Technically speaking, soyoil finally broke-out to the upside of its recent trading range and put in a new trading range high this morning as the last of the soyoil bears exit and new bulls jump aboard. The oilshare story continues to strengthen with soyoil receipts cancelled yesterday, which got the attention of the trade. Buy soyoil/sell meal is now the fan-favorite trade of the day and has been...
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.