Speculative soybean longs do not appear very worried about tomorrow’s stocks and acreage numbers. However, the history of periodic 1 March corn stock surprises makes that market wary. The popular feeling is that if there is a surprise for corn, it will be a bearish one, and funds were sellers today. General Comments Many commodity markets tried to rally again based on Fed Chairperson Yellen’s dovish comments on monetary policy in a speech yesterday that echoed the same cautious approach conveyed in the Fed’s post-meeting statement two weeks ago. This was despite the more aggressive remarks made by several Fed officials last week. Yellen’s comments sent the U.S. dollar sharply lower, which helped push a number of commodity markets higher...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.