Soy futures were under pressure throughout the day session with soymeal giving up its heretofore bullish posture. Meanwhile, wheat futures finally closed higher. General Comments Grain and soy prices were firmer during much of the overnight session as has frequently been the case in recent days. However, corn and soybean prices eased back to near unchanged by the pause in trading before the day session. Wheat was able to hold on to gains of a few cents. During the day session, it was mostly downhill for soybeans. Corn traded on both sides before closing with fractional gains, and the oversold wheat market closed 4-5 cents higher, breaking the long string of lower closes.Last week's export sales were a mixed bag. Wheat sales were larger th...
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.