The wheat market was the surprising upside leader for the day with Matif Paris futures posting large gains after sources said the EU Commission is considering applying a €95/MT tariff on Russian wheat imports. That strength spilled over into the U.S. markets, though U.S. wheat exports are unlikely to be significantly affected by the tariffs. Soybeans pushed lower as funds regained the upper hand selling short the commodity and corn was caught between the influences of wheat and soybeans. Fundamental news remains light for the major ag commodities, which is keeping trade somewhat range-bound as traders adjust positions ahead of next week’s Grain Stocks and Planting Intentions reports from USDA. The Financial Times reports t...
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.