GOOD MORNING, As we edge closer to Thanksgiving, volumes are declining. The features for last week continued overnight with a further break to new lows for the corn and wheat markets, even as beans, meal, and soyoil trend down to the lower portion of their trading ranges. A strong crush report and more business announcements will continue to be price supportive for beans, as is the strong oilshare and soyoil market. Funds have the largest position in the soyoil market, longer than expected, but it remains the most resilient market on the board. The NOPA crush report continued the trend of tighter oil stocks (oil yield also fell sharply to 11.57 vs. 11.86 in Sep.), while China continues to own oil futures on t...
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.