GOOD MORNING, Prices are higher across the board as short-covering takes place with meal leading the charge to the upside. Funds have now sold an estimated 100K corn in 3 days taking them to an estimated 200K short futures/options combined, which is helping to fuel a bit of a recovery bounce today after prices slid to yearly lows. Beans and meal rally, as suddenly more positive news overwhelms the negative. Positive bean/meal inputs include talk of interest in US beans as they are suddenly competitive with Brazil, lowered South American production forecasts, and falling Chinese meal supplies. Wheat turns higher from lower on rumors that China has some interest to book wheat, HRW specifically. In terms o...
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.