The CBOT found ample follow-through selling on yesterday’s bearish October WASDE with funds turning into large sellers in corn, soybeans, and – surprisingly – wheat too. The USDA’s bearish report was certainly the primary catalyst for the day’s decline, though early-morning trade had a sense of macro ‘risk off’ selling related to the rising inflation numbers in the September Consumer Price Index (CPI). On a positive demand note, the break in soybean futures prompted China to enter the market again and rumors suggest the Middle Kingdom booked 4-6 cargoes of U.S. soybeans Wednesday. That seemed to support soybean futures after early weakness and the market spent most of the afternoon trading be...
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.