Corn and soybeans moved higher while wheat came under selling pressure as traders adjust positions ahead of tomorrow’s NASS Grain Stocks and winter wheat acreage forecasts. Trade volume was expectedly muted with futures not making significant moves one way or the other. If you haven’t already, you should check out WPI’s recently published 2019 acreage forecast. The Export Sales report was bullish 2018/19 corn while neutral/bearish soybeans and wheat. Corn net sales and exports were above their volumes needed this week while YTD exports are up 47 percent. Soybean and wheat sales were above their target values while exports fell short of their mark. Recent weakness in the U.S. dollar may help boost exports but...
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.