THE OPEN Jan beans: 2 1/2 higher Dec meal: 1.50 higher Dec soyoil: 3 lower Dec corn: 1 3/4 lower Dec wheat: 3/4 lower Prices opened as called with more upside traction around the board. Dec corn found technical buying activity while corn and bean spreads firmed. The stopping of all the bean receipts by Cargill set the tone for bull-spreading activity, which helped to firm values across the board. More positive trade talk comments from Kudlow found the bean market well supported, with the Dow putting in the best performance to date, trading over 200 points higher. On Bloomberg news, Kudlow stated that the phase one China trade deal is not fully completed, but that the agricul...
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.