There was widespread weakness in many commodity markets today with grain and soy complex futures joining the march toward lower prices. Overall trading volume could not be called heavy, but it was steady. General Comments There was widespread weakness in many commodity markets today despite a weaker dollar. The ICE U.S. Dollar Index dropped 40 points, which was in part a reaction to signs that Emmanuel Macron, who supports France’s role in the EU, would win the French presidency this weekend. Especially weak was crude oil with NYMEX futures plunging $2.39 to close near $45.50 as big supplies hang over the market despite any OPEC production cuts. U.S. stock indices were barely changed.Grain and soy complex futures joined the march toward l...
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.