Argentine Soy Crop Forecast Cut to 40 MMT The Rosario Grain Exchange today slashed its forecast for Argentina’s 2018 soybean crop from its February estimate of 46.5 MMT to 40 MMT, which would be down 16-17 MMT from 2017. The growing consensus seems to be that it will total 40 MMT or less because of the severe drought in the current growing season. It is increasingly clear that Argentina will export less soymeal and soyoil in its MY 2018/19 than in the current marketing year. The only way it can avoid that is to not export any soybeans and convince local farmers to sell all their stored stocks for crushing, but that will not happen. It is more likely that the volume of soybeans processed domestically will decline as will exports of s...
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.