The wheat markets have been solidly bearish for what seems like an eternity. Although the world has produced four consecutive record wheat crops, that is starting to change - at least in North America.The wheat markets have been solidly bearish for what seems like an eternity. The big speculative funds that have been long the soy complex have also been short corn and wheat. Although reversing their corn position from shot to long over the past two weeks, they are still holding a big short position in Chicago wheat futures. Funds have started to cover some of these short positions over the past week. That took Chicago March wheat to as high as $4.64 yesterday before the fund buying in every market stalled, and it was trading 20 cents off tha...
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.