Equities markets reacted negatively to inflationary U.S. economic indictors and spread a risk-off mentality to commodities. The dollar rose in response to likely continued high interest rates, dampening export prospects. Soymeal and lean hogs were the only commodities to end in the green today. There is still too much supply relative to demand. USDA’s Export Sales report for last week was a little quirky. New wheat commitments for 2023/24 were at a marketing year low, but at least there were no washouts as some expected. Yet wheat sales for 2024/25 were almost as large as for the current crop. Some also expected washouts for soyoil, and while they were low, actual loadings at 1,800 MT were at a marketing year high...
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.