GOOD MORNING, The markets started the evening session on a mixed note as they head into trading ranges off contract highs, but have all turned lower into the AM hour. There was a weaker tone in beans and wheat this week so far, and we are seeing follow-through today. South American weather has normalized, and the negative bean seasonal seems to have kicked in. The Feb. 9 WASDE is coming up, and some analysts are thinking that USDA may wait to adjust exports into the March report, which is also spurring more bean liquidation. Countering that is a still firm basis level for beans and corn. After the close, Egypt was in for wheat, and the lowest offer is said to be from Russia. Yesterday's USDA census crus...
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.