Grains market rebounded from overnight pressure on continuing weather problems for the world wheat crop and USDA’s announcement that the U.S. sold 130,00 MT of soybeans to Argentina. Wheat futures were sharply higher for the day while corn and soybean futures were more reluctant followers. The meat markets continued to retreat from their recent highs. Outside of the ag markets, it’s a tough day to be long. The S&P 500 and Down Jones indexes are down 1.69 and 2.27 percent, respectively, and are both nearing long-term support at the 200-day MA. The CBOE’s VIX index is up 17.5 points at 19.25 as of this writing, while the U.S. Dollar Index is 17 points lower after five days of consecutive gains. So far, the 100-day MA ha...
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.