Milling Wheat The Black Sea market was under pressure last week as it followed the decline of the EU and U.S. markets. Russia is exporting about 500 KMT per week, bringing the cumulated total since the start of campaign to 29 MMT as of the end of February. The big question is whether it can export 34 or 37 MMT this year as the remaining surplus is located far from the Black Sea ports. The lower the FOB Black Sea price goes, the more difficult it will be to originate wheat from northern Russia for export due to the very high interior transportation cost to the south. The EU exported 182 KMT last week, bringing the total to 11.7 MMT versus 13.9 MMT at the same time last year. Its feed wheat is losing demand to barley as the EU price for the...
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.