The CBOT was mostly lower in quiet trade with the federal government, most banks, and bond markets closed for the Columbus Day holiday. Trading volume was light, and traders were primarily focused on positioning for Tuesday’s WASDE report. The USDA is expected to increase its U.S. corn and soybean yields, production, and ending stocks projections tomorrow, which led to quiet selling on Monday. Funds were modest net sellers for the day but remain long corn, soybeans, and wheat amid an inflationary and tighter world supplies outlook. The weekly Export Inspections and Crop Progress reports are delayed one day due to today's U.S. federal government holiday. Malaysian palm oil stocks totaled 1.74 MMT at the end of September,...
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.