U.S. Soybean Export Sales Down Sharply Last Week Today’s USDA export sales report indicated exporters were far less successful selling U.S. soybeans for export in the week ending 28 November than in previous weeks. Net export sales totaled 683,800 MT. That was a decline of 59 percent from the previous week when net sales totaled 1,664,100 MT. The main reason for the sharp decline was a major decline in sales for export to China (298,600 MT versus 831,200 MT in the previous week). The decline in sales was expected because Chinese buyers have bought almost all the 10 MMT of soybeans the Chinese government authorized them to import from the U.S. duty free. As of 28 November, a total of 5.558 MMT of U.S. soybeans had been exported...
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.