Soymeal was the upside leader (and one of the few markets to finish higher) on Tuesday as a combination of tight spot supplies and strong feed demand bolster physical prices. Soymeal futures surged to new contract highs on heavy volume, which helped pull the soybean market into the green as well. Past that, the CBOT was almost exclusively lower with wheat and corn continuing their respective selloffs. Even the livestock markets, which face a bullish supply outlook, turned tail and posted large losses for the day. Weakness in cattle futures was related to weakness in the beef cutout while the hog market selloff was related to a slowdown in slaughter levels and suspected weakness in packer demand. Funds were net sellers in corn and wheat for...
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.