Soybeans futures closed mostly about 4-5 cents higher in surprisingly active trade. Long grain/short soybean spreads were being unwound, which contributed some of the buying as did Chinese orders to price some of their basis purchases that presumably are to be loaded soon. General Comments Corn, wheat and soybeans all traded modestly higher overnight in better-than-expected volume for this holiday week, but only soybeans were able to maintain those gains during the day session. Corn and wheat markets ran out of buying support early in the day session and drifted lower into the close. The March corn contract closed at $3.59, a new low settlement price. Some of soybeans’ strength and grains’ weakness resulted from year-end unwinding of long...
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.