World weather worries sent the entire grains complex higher in today’s trading, with corn and wheat futures advancing beyond Tuesday’s pre-China-crash closing prices. Soybeans made a valiant effort to erase yesterday’s losses but could not fully overcome yesterday’s price drop. The cattle complex found additional buyer support today, which sets the stage for a higher close tomorrow in the futures and cash markets. Outside of the ag markets, the S&P 500 and Dow Jones indexes finished the day higher by 18 and 240 points, respectively. The U.S. dollar is currently holding modest gains while COMEX gold is down $10/ounce. Crude oil futures are slightly higher as of this writing. Corn May corn futures fi...
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.