Green was the color of the day for grain and soy markets. Prices wavered a bit at the opening of overnight trading, but they soon began to push higher. Some of yesterday’s weather models had hinted at possible showers over parts of Argentina’s crop areas next week, but later model runs eliminated that chance. Almost complete dryness is now expected until at least 15 March along with summer heat. So, the weather market is marching on. At the trading recess, winter wheat and soybeans were up about 6-8 cents with corn higher by the usual fraction of a cent. Traders are beginning to weigh what serious production losses for Argentine soybeans and corn might mean in terms of increased demand for the U.S. Prices across the board conti...
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...