Corn has been the favorite of the South American market for the second week in a row with large volumes traded. The Argentine harvest advanced to 16 percent of the early crop corn with the total area also showing progress. Soybeans New projections peg Argentina’s pending soybean crop at 56.5 MMT. If realized, this would be 500,000 MT more than in 2015/16. Yields are still surprising farmers in certain areas of the soybean belt where some are reaching 5 MT/hectare. The FAS market is dropping, influenced by weaker CBOT prices, but there is very little farmer selling of old (almost finished) or new crop soybeans. Argentine farmers have no pressure to sell because they covered their costs to date by selling wheat and corn. Recall that wheat p...
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.