For the past several years, the U.S. wheat supply/demand outlook and U.S. wheat prices did not mean a great deal to the world market. Cheaper wheat was available from elsewhere, and the U.S. was relegated to being a marginal supplier. 2016/17 promises to be different, however.There were no major surprises in USDA’s quarterly stocks and small grains reports of 30 September. By far, the biggest deviation from market expectations were the 1 September wheat stocks of 2.527 billion bushels, the largest since 1987 and about 100 million bushels higher than the average trade guess. Under different circumstances, this might have qualified as a bearish surprise. However, with ending U.S wheat stocks for 2016/17 already forecast at 1.1 billion bushels...
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.