At the macro level, the day started off with a strong U.S. jobs report that indicated 224,000 jobs were created in June. This reduced the chances that the Federal Reserve will lower interest rates, which buoyed the U.S. dollar and caused equities to back off from the roaring gains of the past few days. The strong U.S. economy and its accompanying firm U.S. dollar will put downward pressure on exports. Corn FUTURES Moist but warm conditions give a boost to the production outlook for even a late-planted corn crop, and the market started out down slightly. Still, the nearby contracts managed to climb another penny or two. Trade was in a narrow post-holiday range. An announcement by U.S. EPA of a slight increase in the Renewable Fuel...
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.