Except for corn, the CBOT was mostly lower on Friday with the soyoil market plugging to limit-losses and pulling soybeans lower as well. Wheat futures continued to see follow-through selling on yesterday’s technically disastrous trade but posted small gains at the day’s end. Funds were modest net buyers in corn for the day while selling heavy volume of soyoil and soybeans. Funds are thought to have been relatively flat the wheat market with fresh short selling partly offset with short covering at technical support levels. The market continues to prepare for next week’s USDA reports, where the agency is expected to forecast U.S. corn plantings of 93.21 million acres, up from last year’s 90.819 million actual ac...
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.