Global wheat worries and technical buying lifted the entire grains complex today. The drought in the Southern U.S. Plains, along with increasingly worrisome drought in Australia and poor European conditions pulled wheat futures higher. Corn and soybeans had little selling pressure to contend with as farmer selling is near-zero since producers are focused on planting activities and were consequently lifted higher. Cattle and hog markets were higher on improving cash market conditions. Notably, a cargo ship collided with a dock in Argentina’s Parana River which damaged the northern loading dock. Reports indicate the southern dock is operational but that it will be 4-8 weeks before it will be fully operational. For now, it is uncl...
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.
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...