Losses of Soybeans to Flooding It will be years before the damage done by the widespread floods in Nebraska, western Iowa and Missouri are overcome. Roads, railroads, levees and some dams were washed out along with many homes, businesses and thousands of acres of farmland. The cost will be several billion dollars. One of the short-term impacts has been the loss of millions of bushels of corn and soybeans that were stored in grain bins. Photos from the affected areas show hundreds or thousands of those bins burst open when the contents inside swelled after floodwaters leaked into them. By law, the grain damaged in this way cannot be sold or fed to livestock. It will likely be months before the total losses are determined, but they will not...
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.
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...