Corn, soybeans, wheat, KC wheat, and soyoil all posted fresh contract highs to start the week. Continued dryness in Brazil and rising basis in the U.S. sparked a limit-up move in May and July corn futures immediately following the morning’s opening bell. Wheat followed but the KC wheat market was an upside leader in its own right with the U.S., Canada, and Europe all facing possible production-reducing droughts. For the day, funds are thought to have bought 25,000 contracts of corn, 19,000 contracts of soybeans, and some 18,000 contracts of wheat. Trade is becoming increasingly technical with momentum traders piling in. That makes the CBOT more susceptible to technically based selling if a reversal or market top forms. For now,...
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.