As fear of the coronavirus causes money to rush out of equities and commodities, why are bulk shipping rates rising? The transportation segment is complex. Airlines are forecast to take a $100 billion dollar hit this year as their traffic drops, but trucking keeps trucking along. The Baltic Dry Index (BDI) measuring bulk cargo shipping rates hit a peak in September 2019 and then slid lower, until now. The price of oil, a key ingredient in global shipping, is at a 12-month low. There is no competition from cruise ships for bunker fuel because they are being idled. Yet after hitting a low of 411 on 10 February, the BDI has been rising, hitting 599 yesterday. The industry says it is because of improved supply/demand balances. Iron ore...
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.