THE OPEN March beans: 9 higher Dec meal: 2.20 higher Dec soyoil: 25 higher Dec corn: 1/4 higher Dec wheat: 3/4 lower The markets opened as expected with grains a touch weaker vs. the soy complex. Beans continued to tack on gains on short-covering activity due to positive technicals, drier weather in Argentina, and more rumors surfacing that China purchased cargoes of US beans. Spread trade dominated with more buy soy/sell grain trade and buy soyoil/sell meal, which pushed oilshare to new highs. At 10:00 export inspections were released as follows: Corn: 481,097 mt vs. 500,000 mt expected Beans: 1,327,042 mt vs. 1.575,749 mt expected Wheat: 313,810 mt vs. 334,904 mt...
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.