THE OPEN May beans: 8 lower May meal: 5.30 lower May soyoil: 27 higher May corn: 4 1/4 lower May wheat: 10 3/4 lower The markets opened as called with early weakness a consistent theme for the day, particularly for beans. However, higher crush margins and firmer basis levels invited more buying today for beans and meal despite opening weakness. The markets that were beaten up the most found support amidst short-covering activity, namely soyoil and corn. Soyoil held its gains over meal as weaker oilshare firmed on profit-taking. Corn found more short-covering when prices moved through key resistance which triggered buy-stops. In terms of positive news for th...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.