Soybeans did not beat corn after all in the annual battle for acres. USDA’s Acreage report this week revealed that 88.33 million acres will be planted to soybeans, which is up 1 percent from last year but down nearly 3 percent from the implied sowing in the March planting intentions report. Now the hunt is about weather, which is slightly improved as showers move into the Midwest next week. A record crop is expected despite the drop in area planted. Ukrainian sunflower production at 9.5 MMT is down 46 percent from last year, but it has begun to move more aggressively into export. Sunseed exports have now surpassed 1 MMT, and there are larger sunseed crops being grown in Bulgaria and Romania. The situation in China has become m...
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.