The impact of Russia's significant tariff on wheat exports that was announced is yet to be determined. Markets opened steady to higher with soybeans up 3-5, corn steady to down a penny and wheat steady to a penny higher. General Comments There was actually some market news to start the trade the day after Christmas. Russia did announce it will impose a wheat export tariff beginning 1 February that will be a minimum of 35 euros/MT (approximately $43-44/MT) and is based on prices. This is a significant amount and will essentially stop Russian wheat exports until next July. The question is how much exports will truly be reduced since it doesn't take effect until 1 February.The normal weekly USDA reports such as export sales will be released...
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.