Soybeans Brazil There was some interesting movement of old crop soybeans last week from Brazil to China. After several days of the weaker real, stronger CBOT and U.S.-China trade talks driving old crop basis lower, the Chinese decided to jump into the market. Their crushing margins had improved substantially on the back of strength in Dalian futures, reaching near $30/MT. The Chinese bought several cargoes of September, October and November shipments, both FOB and CNF. FOB traded at +185X for first half October, and CNF traded as low as +283X for November before then rebounding. It has been difficult to get offers so far this week, although there was a rumor of a cargo offered at +300X CNF. If true, that would show an increase of 15 cent...
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.