THE OPEN March beans: 5 1/4 lower March meal: 2.50 lower March soyoil: 50 lower March corn: 2 1/4 lower March wheat: 7 3/4 lower The markets opened lower, but shorts were still looking for places to cover given the good performances of the past week. Setbacks were still largely viewed as areas for shorts to cover something in, while oilshare entered into a small correction. Funds are now near a record long in soyoil, which could be near 71K, while beans are now estimated to be short 75K, 27K in meal, and 100K in corn. Funds are estimated to be long 40K in wheat. On the political front, Argentina took grain export taxes higher with grains up 3% to 15% and beans up 3% to 33%. ...
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.