CBOT markets were called to open lower on a mix of profit taking and lack of fundamental news, and futures responded accordingly. The CBOT was weaker through most of the day amid some testing of support levels, unwinding of spreads (particularly wheat/corn and soymeal/soyoil), and, of course, profit taking. Still, the soy complex finished higher amid strong basis levels and rising crush margins while wheat continued to show its strength and posted a sixth straight higher close. Livestock futures, particularly cattle, continue to rally as beef demand strengthens and as concerns about plants shutting down due to coronavirus impacts abate. One of the market’s chief concerns has been that if a packing plant employee tested positive...
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
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.