GOOD MORNING, The report yesterday was slightly bullish beans and bearish corn, which caught funds on the wrong side of both markets. Skeptics may be in place for the data that was released, but once the numbers are printed the market has to digest them, and that is the phase we are currently trading. Corn closed limit down yesterday with synthetics adding another 3-4c in losses. CME Group noted there will now be an expanded corn limit of 40c. WEATHER Adding to the bearish picture for corn is the current weather pattern featuring rainfall across drier portions of the Midwest. Rains crossed drier portions of Illinois, spreading east towards Indiana and Ohio. Additional rains are on track for this week a...
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.