Brazil’s soybean market rebounded last Friday after nearly three weeks of steady declines, driven by the presence of one important variable. This week’s price action makes a decidedly different market and even more so for deferred positions. Has basis bottomed out? Soybeans Argentina Strong rains over Argentina’s production region stopped the soybean harvest last week. Crushers and exporters are waiting for beans to reach plants and ports, which will hopefully start in the next three-four days. The damaged area was estimated at 500,000 hectares through last week, and that is expected to grow after this weekend’s rains.Despite the heavy rains, The Argentine production is still estimated at 57 MMT, the second-largest in the country’s histo...
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.