Soybeans The market was quiet last week with Chinese buyers generally uninterested in securing soybeans, despite good crush margins in China, especially for new crop soybeans. The Chinese are waiting for more clarity on the U.S.-China trade war negotiations as well as holding out for lower Brazilian offers. Looking at the forward curve and comparing different origins, Brazil is clearly the most competitive origin from February forward. The U.S. Gulf can compete on spot positions, though offers are not especially close to Brazilian levels. There were several cargoes traded from the Gulf last week at 177-178F CNF China for December shipment, while Brazilian soybeans traded at 190F. Once soybeans traded in the U.S., basis rose a few cents, g...
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.