The CBOT was mixed to end the week and start the month of March with livestock futures extending their rallies amid strong fundamentals. Grain trade, however, was less decisive with wheat futures dropping sharply lower amid greater competition from Ukraine and a bearish breakdown in technical conditions. Corn felt pressure from weaker wheat and snapped a four-day winning streak while soybeans and soymeal pushed higher amid export demand for the latter. Funds were net sellers in wheat and corn but pared back more of their short positions in soybeans as early Brazilian yields disappoint. All week, the market has felt like it is at an inflection point where a trend one way or the other is going to accelerate quickly. Friday’s trad...
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.