Grain and soy futures prices were mixed as last evening’s trading began, but they soon drifted lower with soybeans and soymeal taking the lead in typical holiday volume. The lower move continued after the trading recess and began to accelerate about midway through the day session with the soy complex still in the lead. Much of the selling is technical chart-related, but cash merchants report a modest pickup in selling by farmers apparently in need cash or wanting to take some income in 2017 ahead of the new tax law that goes into effect 1 January. The soy complex lost its forward momentum today. January soybeans closed down 9.75 cents ahead of first delivery intentions, and the March contract fell 10.75 cents. Soyoil was the big lose...
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.