Corn and soybean markets came under pressure from harvest hedge selling while last week’s bearish reports continue to rock the wheat market. General Comments The U.S. corn and soybean harvest will start to push towards the 35-40 percent complete mark by the end of this week. Markets reflected this fact today with increased harvest hedge pressure, or at least the anticipation of that pressure, pushing prices lower. Wheat again suffered from the Minneapolis hangover caused by the unexpected increase in spring wheat production in last Friday’s USDA report. The weather is week looks fairly good for harvest across much of the Corn Belt.The market will now start to think about the 12 October USDA production estimates (corn and soybeans) and the...
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.