The CBOT opened on a higher note after overnight news of Chinese removal of some tariffs on U.S. ag products. Soyoil jumped to sharp gains early, which helped boost soybeans as well. Grain trade was under the influence of buy soybeans/sell corn/wheat trade which capped rallies in the latter contracts. News broke this morning that the Chinese government has agreed to lift tariffs on some imports of U.S. soybeans and pork. The South China Post reported that Chinese officials agreed to waive tariffs based on applications by individual U.S. firms. Recall that the tariffs include a 25 percent duty imposed in July 2018 as well as additional tariffs of 10 percent for pork and 5 percent for soybeans that were set in September this year...
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.