The CBOT was mixed with continued weakness in the soy complex as soybeans and soymeal broke technical support levels. Soyoil traded a volatile day and ended essentially unchanged despite strong outside support from crude oil. Wheat futures were higher and helped corn post early-season gains, though selling intensified in the corn market as values neared the $5.50 level. Traders are nervous about rising trade tensions between the U.S. and China, with U.S. Trade Representative Tai giving a speech this morning reaffirming the U.S.’ commitment to existing tariffs and urging China to abide by the Trump-era Phase One commitments. The weekly Export Inspections report continues to show improvement in the U.S. Gulf with all but one faci...
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.