THE OPEN March beans: 4 3/4 higher March meal: 4.20 higher March soyoil: 20 lower March corn: 2 1/2 higher March wheat: 7 1/2 lower The markets opened higher but found profit-taking in the soy complex, and lower prices for wheat. While prices were lower, they continued to find end-user pricing, short-covering, and buying interest given the continuing bullish aspects of the markets. At 10:00 export inspections were as follows: beans: 1,447,261 mt vs. 2,805,077 mt week ago (and vs. an expected 2,062,000 mt) wheat: 303,809 mt vs. 392,178 mt week ago (and vs. an expected 400,000 mt) corn: 993,710 mt vs. 770,122 mt week ago (and vs. an expected 825,000 mt) Corn inspections were up...
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.