The CBOT seemed to abandon its early-week theatrics on Thursday and return to a more typical between-holidays trading pattern. Grain markets posted losses for the day with corn pulling back from its surprise rally while rains forecast for the Plains and Midwest in the next two weeks sent wheat 11-15 cents lower. The soy complex continues to impress and March soybeans settled above $15 for the second day. The soy complex rally remains driven by soyoil with questions arising about soymeal’s long-term outlook. Trading volume was quiet in the grains and oilseeds markets but live cattle futures saw another heavy-volume day with fresh contract highs. Funds were net sellers in corn and wheat, slight buyers in soybeans and soyoil, while remai...
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.