It was another day of very narrow trading ranges for corn, wheat and the soy complex with volume more normal or average. Heading into today, managed money was reported as short 330 million bushels of wheat, 455 million bushels of corn and 185 million bushels of soybeans. General Comments U.S. markets will be closed Monday, 15 February for the Presidents Day holiday, and trading will reopen that evening. Based on the week’s market action, we probably won’t miss very much. Actually, the grain and oilseeds markets held their ground quite well this week, considering the extreme volatility still occurring in energy and financial markets. Trading volume was big in the agricultural markets, but price movement was limited. As we wrote earlier in...
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.