GOOD MORNING, Prices were mixed to lower this morning, with the board continuing to follow the path of crude. As prices neared the close, crude jumped to new highs taking Ag prices along for the ride, as the correlation between macros and ags continues. If energies continue to rally, would expect to see more short-covering from the start of the day. It has been a week of net fund selling across the board, and tonight we get the latest commitment-of-trader's report. Funds are an estimated net short 175K corn, futures / options combined. That position can give the market a boost on any day that delivers a bullish surprise, as was shown by crude's rally impact on those energy-related markets. Ethanol, corn, and...
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.