While wheat gave back another big chunk of its recent days’ gains, soybeans and corn kept the rally going. However, volume was muted, except in the SRW contract where abandonment was large. The message is complex. Wheat prices in the wake of war went off kilter. There is not a huge global wheat shortage. By contrast, there are continued adjustments lower in South American soybean and corn supplies at the same time export sales today were robust. Barely mentioned but seemingly important, the Russians allowed about 30 of their grain and sunflower oil ladened ships to sail out of the Azov Sea. Mind you, Ukrainian supplies remain bottled up and could remain that way for a while, but there is also a sense that a long game doe...
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.