Markets were largely neutral overnight. Ongoing dry weather in Argentina and the southern U.S. Plains (hard red winter wheat) was offset by fears of just where the world trade discussions will go. The markets opened mostly steady today, but the KC wheat market eventually broke out higher. Soybeans also traded 4-5 cents higher most of this morning, while corn managed to barely hold steady until later in the session. Weather forecasts are still mostly dry for Argentina. Meanwhile, conditions might be turning too wet in Brazil, which will further slow the soybean harvest there and mean more planting delays for the safrinha corn crop. USDA will release its March WASDE (supply/demand) revisions on 8 March. Meanwhile, the threat of a trade war...
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.
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...