The focus now shifts to harvesting the huge U.S. soybean crop. Efforts are already underway in the Dakotas, but it will be two to three weeks before the harvest begins in most of the Midwest. However, there is a larger issue. A Huge U.S. Soybean Crop and Huge Demand Yesterday USDA surprised many by raising its forecast for the average U.S. soybean yield to 50.6 bushels/acre (3.4 MT/hectare), which resulted in a boost in its forecast for production to 4.201 billion bushels (114.34 MMT). If realized, that would be the largest U.S. soybean crop in history and 6.9 percent (272 million bushels) greater than the previous record set a year ago. It would also be 843 million bushels (22.943 MMT) more than the 2013 crop.Just a few years ago,...
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.