KC and Chicago wheat futures traded steady to slightly higher much of the session with Mpls under slight pressure. Today was also first notice day for deliveries against the March contracts. General Comments Happy Leap Year Day! Markets felt like they should only happen once every four years today as they were stunningly peaceful. Crude oil was up nearly $1 a barrel all day, but that didn’t prompt any month-end excitement in any market. U.S. financial markets held on to .1-.2 percent gains until they tuned lower after the noon hour and weakened further into the close. Corn and soybean futures were 2-3 lower most of the session with wheat markets steady. The U.S. dollar was just firm. Trading volume was ordinary.Today was first notice day...
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.