U.S. Canola Area Up, Production Down in 2017 Last week’s USDA crop production report noted 2.028 million acres of canola were harvested in 2017, up 19.9 percent over 2016. This is a record and an indication that more than a few farmers in the Great Plains chose to plant canola instead of wheat. These plantings increased substantially in Oklahoma (87 percent) and Kansas (96 percent). Because of the drought in the upper Great Plains, however, production fell to 2.805 billion pounds (1.273 MMT) from 3.086 billion pounds (1.727 MMT) in 2016. This reflects a drop of over 24 percent in the 2017 average yield to 1,383 pounds/ acre (1.55 MT/hectare) from 1,824 pounds/acre (2.04 MT/hectare) las year. U.S. Sunflower Plantings and Production B...
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.