Overnight trading in grain and soy futures saw average volume and limited price movement. Markets traded on both sides of Monday’s closes. At the recess, wheat and corn were down by fractions with soybeans a penny or so higher. Price trends became better defined during the day session as Chicago and KC wheat contracts edged higher, helped by a sharp drop in the U.S. dollar. Chicago wheat was up near 5 cents at its high, and KC wheat peaked up about 3 cents. Both markets then finished down 1-2 cents from their highs, but their positive closes were in contrast with the general weakness of corn and the soy complex as well as a number of other commodities today. MGEX wheat closed around 1-4 cents lower, however. There was little by...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.