GOOD MORNING, The week started off with negative vibes, as China indicated they would not buy beans from the US. Then the bean buying spree started and beans have not looked back since. A weaker US dollar, (as traders unwind previous buy US dollar/sell energies and buy US dollar/sell other currencies, including the Brazilian Real), fed into a higher market trade. If behavior speaks volumes in a market, the fact that on two days this week beans ignored very bearish news was a clue that higher prices would be around the corner. AgriCensus confirmed that Chinese state buyer Cofco purchased two cargoes for Sep and Sep/Oct delivery time frames, and other world buyers are coming to the market as US beans are globall...
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.