Palm oil was really the star of Tuesday’s commodity trade as the market rallied on the heels of dry weather threatening Malaysia’s 2024 production. The strength in palm oil spilled over into the soy complex and all three legs of the soybean crush turned higher with meaningful bullish technical developments. Soybeans broke their resistance trendline that has been in place since harvest time and the soyoil market bested technical resistance levels of its own. The risk now is that increasingly bullish technicals will force funds to start cutting back their massive short position in soybeans, possibly creating a swift and explosive rally. While all eyes were on the soybean market for the day, corn and wheat were mostly steady...
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...
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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.