Renewed short covering helped grain and soy markets to recover overnight losses and move modestly higher, a pretty apt description of the price action throughout the day session. This is the first three-day stock market rally so far in 2016. General Comments Grain and soy futures prices, soyoil excepted, eased back from Tuesday’s closes into small losses with the main feature being simply a lack of buying interest amid rather quiet overnight trade. Outside markets were mostly supportive with the U.S. dollar slightly lower and crude oil higher. Asian stock markets firmed, and Dow futures posted further gains. Malaysian palm oil futures jumped higher, which along with higher crude oil prices kept soyoil futures prices in the green.However,...
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.