Crude oil and an implosion in Argentina’s economy supported corn and soybean prices today while wheat markets ran into technical selling. Global vegoil prices were higher overnight with rising crude oil values making Malaysia palm oil “too cheap” relative to the fossil fuel. That supported soyoil at the CBOT (it’s been a long time since those words were written) and offered some support to the broader soy complex. More interestingly, Argentina’s currency is crashing (down 3 percent) as one of the country’s major unions is threatening to shut down for 24 hours in protest of President Macri’s policies and rampant inflation. The move has reportedly shut down the port of Rosario, a major agricult...
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.