The U.S. farm economy didn’t find any relief on the immediate horizon in today’s USDA acreage and quarterly stocks estimates (see today’s separate analysis for details), and corn got hammered as soon as they were released. More optimistic talk about a trade deal with China didn’t provide much help for the grain markets. However, it did bolster U.S. equity markets, which were up 0.5-0.6 percent through most of today’s trading session. Crude oil and the U.S. dollar were also both higher. Corn FUTURES Corn fundamentals have been teetering on the edge of turning at least slightly bullish, but today’s big 1 March quarterly stocks number coupled with more acres than the trade expected delivered a bo...
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.