GOOD MORNING, Funds continue to buy the market and are now long an estimated 180K beans, 50K meal, 106K soyoil, 390K corn, and even wheat. On May 12 we get the next USDA Supply and Demand report, which updates US and world 2021 corn and bean numbers, and gives our first stats of 21/22 crops. USDA May 12 report will contain NASS' first US 2021 winter wheat production forecast. July corn trades over $7.00 for the first time since 2013 on a firm basis, lower crop production from Brazil, and light farmer selling. StoneX forecasts the crop now at 100.25 mmt, which is 8.75 mmt lower than the USDA April outlook. Talk is that the actual production is much lower than this. Brazil's ANEC said there wo...
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.