The U.S. soybean industry was a strong supporter of the U.S.–Colombia Free Trade Agreement (FTA) when it was being considered by Congress in 2011. It believed that U.S. soybean exports would notably increase to that country as a result, which now appears to have been accurate. Record-High NOPA Crush Volume in June The National Oilseed Processors Association's (NOPA's) monthly crush report, which was released yesterday, indicated its members processed 142.473 million bushels (3.878 MMT) of soybeans in June. This was the highest amount ever reported for that month with the previous record being 141.583 million bushels (3.85 MMT) in June 2007. It was down from the 148.416 million bushels (4.04 MMT) crushed in May, but 20 percent higher than...
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.