Today’s USDA quarterly stocks numbers and Annual Small Grains Summary didn’t offer the markets many fresh insights to trade on. The 1 September corn and soybean stock numbers will effectively become the 2017/18 (1 September-31 August) ending stocks in USDA’s October WASDE report. Today’s corn stocks number was 2.140 billion bushels versus USDA’s last corn ending supply estimate of 2.002 billion bushels, which means the 2017/18 ending stocks will increase by 138 million bushels (3.5 MMT). This was well above the average trade guess, implying that less corn was fed. However, it doesn’t match with a record number of animals on feed. The more likely reason is the 2017 corn crop was bigger than previously repo...
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.