The Market Soybeans were in the green on Friday morning until USDA released its bearish December WASDE report. Traders had expected U.S. carryover stocks to be reduced based on robust exports, but instead the agency raised global soybean ending stocks slightly. Croatia may have knocked Brazil out of the World Cup, but USDA only made minor tweaks to its South American soybean forecast. The report also messed with soyoil and soymeal (see below). The January soybean contract had hit a 2.5 month high the day before USDA’s report based on optimism over Chinese demand, and a view that Argentina’s output will be cut. For the week, the spot month contracts are up 45.25 cents for soybeans, a robust $47.50 for soymeal, and down 5...
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.