CBOT ag commodities traded mostly sideways on Tuesday while bulls and bears wait for headline(s) to help move the markets. Wheat saw perhaps the greatest action for the day with the KCBT market ending 15 cents in the red and scoring a new contract low, which pulled the CBOT market lower as well. Corn and soybeans continued their sideways chop while bull spreading drove soymeal and soyoil in opposite directions. Fresh news was light for the day, and one gets the sense traders are simply biding time until export demand changes appreciably or market-moving headlines develop. Looking forward, this is the time of year when corn and soybeans post seasonal lows and start to grind higher once harvest is concluded. The challenging weather for the la...
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.