The CBOT traded a mixed day with wheat once again the market’s focus. Wheat futures opened sharply lower as the short-covering rally ended and the market was freed to trade as much as $1.30 either side of yesterday’s close. The end of the short-covering panic allowed wheat futures to correct sharply lower overnight and during the day session, but the bullish influence of the Ukraine war remains clear as May CBOT wheat ended just 7½ cents lower. Most of the trade was focused either on the wheat market or on positioning for tomorrow’s March WASDE. Funds sold as much as 18,000 contracts of wheat while buying 10,000 contracts of corn and 8,000 contracts of soybeans. Managed money traders were also net buyers of 6...
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
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.