The CBOT was almost strictly lower to start the new month with corn and soybeans leading the way on expectations (that were proved correct) of strong planting progress last week. Wheat futures tried to rally in early trade, but the corn and soy complex weakness pulled that market lower with additional help from long liquidation and short-selling trade. There are still problem areas in the world for the 2024 crop outlook, but the bullish headlines are fading quickly, which means that funds are baring back long bets and booking profits. Last week’s CFTC report showed funds re-emerging as a bearish force for the markets and that trend looks to be continuing this week. Unless the weather forecasts turn much more challenging for the Northe...
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.