This should be the window for U.S. export sales, but it has been strangely quiet. There were rumors of a Chinese purchase this week, but nothing has been confirmed. If exports falter and U.S. farmers produce a bumper crop this summer, the surplus stocks overhang will plunge prices. Speculators are already bailing with the CFTC report that during early February, they cut their net long positions in soybeans by 7.6 percent, in corn by 7.1 percent, and added 10 percent to their net shorts in wheat. Russia will likely balk at extending the Black Sea grain corridor agreement when it expires on 18 March, and that will lead to some level of spike in corn and wheat. But that will be ephemeral. What is needed are U.S. exports. Traders are believing...
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.