THE OPEN January beans: 1/2 higher December meal: 1.70 higher December soyoil: 31 higher December corn: 3/4 higher December wheat: 4 lower The markets opened with bean and meal prices placing new highs after the open as the inverse steepened, followed by new highs in beans and corn. Funds continue to purchase out of the gate as technical strength continues and setbacks remain shallow. Bull spreads for corn, beans, and meal remain firm as the market calls for more supply to fill export pipelines. Today's higher prices seemed to find increased movement and profit-taking by the noontime hour. Solid bean and corn sales were constructive for this morning's early rally,...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.