THE OPEN Jan beans: steady Dec meal: .40 lower Dec soyoil: 23 higher Dec corn: 3/4 higher Dec wheat: 3 lower The market opened as expected with more gains posted in corn on short-covering activity. Traders were opting out of recent buy bean and wheat trade/sell corn, as the corn chart begins to put in more constructive trade. Farmers continue to keep supply stored, waiting for better values before selling. US corn could gradually become more competitive into next year. Continuing rain and cold weather are hampering the last of harvest activity, with some fearing that not much progress was made last week, nor this week for sure. Corn spreads continue to firm. Oilshare entered...
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.