U.S. Soy Export Sales Update After weeks of substantial sales, USDA’s weekly export sales report indicated there was a sharp drop for the week ending 14 March. Net soybean export sales totaled only 399,500 MT, a 79 percent decline from the previous week. The largest sales were to Germany (155,900 MT), China (142,600 MT), Egypt (88,700 MT), Japan (70,200 MT) and the Netherlands (63,300 MT). However, they were partially offset by reduction in sales to unknown destinations of 237,500 MT and Mexico of 31,400 MT. Outstanding sales for shipment in 2019/20 were reduced by 64,400 MT as a result of a cancelled 69,500 MT sale to China. Soybean exports totaled 1,015,100 MT, mainly to China (268,600 MT), Egypt (173,700 MT), Germany (155,900 MT)...
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.