Dry weather across the world pulled wheat markets higher while corn followed on supply concerns of its own. Soybeans were reluctant followers of the wheat and corn markets, though there is more sideways/bearish sentiment in that market. Cattle markets were sharply lower today while nearby hog futures rallied and deferred contracts fell. President Trump announced a 30-day respite from the newly-imposed steel and aluminum tariffs for Canada, Mexico, and the EU while Australia, Brazil, and Argentine received permanent exceptions. The announcement should be viewed as bullish NAFTA renegotiation talks. Aside from improving trade relations, the U.S. equities markets tanked early today. The Dow quickly fell to 200-point losses but 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.