The CBOT was broadly lower in quiet trading today with little fresh news to spark much activity. The markets are continuing to digest the U.S.-Japan trade agreement while simultaneously trying to discern whether there will be additional interest/follow through in U.S.-China trade discussions. The game now seems to be that of waiting for U.S. crops to finish maturing while watching the weather closely for signs of frost or freeze. The weather remains broadly favorable for finishing the 2019 corn and soybean crops as well as adding to soil moisture reserves for the 2020 wheat crop. The near-term forecast includes slightly above-normal temperatures with below-average precipitation. The 8-14-day forecast, however, shifts slightly cooler...
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.