The CBOT was higher again on Monday with grains leading the way. Corn and wheat futures showed pronounced strength while soybeans were mostly along for the ride. Funds were net buyers in corn, soybeans, and wheat while selling soyoil in favor of soymeal. Breaks continue to find strong support from end-users and speculative buyers, suggesting the CBOT rally still has room to run. Speculation is arising that the U.S. could export corn to Brazil, with the Brazilian government dropping the import tariff for non-MERCOSUR countries. WPI is skeptical that significant volumes will be shipped, however, as U.S. elevation capacity is extremely limited for LH October and November positions, meaning any shipments would have to be booked for Decem...
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.