The CBOT rallied to start the week on a combination of follow-through buying from Friday’s corn and soybean gains as well as a hot, dry forecast for the U.S. in the coming weeks. End-user and some commercial buying activity was noted for the day, but much of the volume was related to funds paring back short bets or cautiously adding length to positions. Grains, oilseeds, and livestock futures all finished higher for the day as supply concerns remain supportive for all these markets. Temperatures will remain well above average in the coming two weeks with minimal nighttime cooling expected. For the coming week, daily high temperatures in the southern Plains and western Corn Belt will be 10-14F above normal while nighttime lows w...
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.