For corn, Argentina still needs to put on program for October and December, but demand is not ready to buy at the current premiums. If this continues, it could impact carryover stocks, and the situation is even more complicated in Paraguay. Soybeans South American soybean markets saw light trading action last week and are quiet to start this week. The most notable action last week was China’s purchase of several Pacific Northwest (PNW) cargoes for October shipment at $1.45-1.50X CNF, showing that the U.S. is by far the cheapest origin. Argentina’s soybeans are priced at least 10 cents a bushel higher, while Brazil and U.S. Gulf are 15-16 cents higher. Chinese demand remains focused on the spot market where crush margins are good. The mark...
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.