The CBOT was mixed heading into the WASDE report with soybeans showing surprising strength and corn paring back some of Monday’s short-covering gains while wheat was flat/slightly lower. The WASDE produced the typical volatile reaction immediately after its release, but markets soon steadied and continued their prior trends. Funds were net buyers in the soy complex for the day, sellers in corn, and heavy sellers in wheat. The WASDE offered little to change the existing long-term trends for the major ag markets but did provide several important fundamental updates. The April WASDE is seldom a major market mover and that was largely true today as well. The major theme of the WASDE was smaller world carry-out for corn and wheat an...
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.