GOOD MORNING, The much anticipated report has come and gone, with much less fanfare than expected. This morning, prices are lower across the board as the impact of the cornovirus continues, along with bearish sentiment from that report, and macro pressure. Surprisingly, corn is down the least despite yesterday's bearish corn stats. The corn acreage at 97.0 mln acres would be record high, but in reality it could just be the largest number in print for the season. Right now, the economics for planting beans rather than corn is strong, with most analysts plugging in more bean acres and less corn as ethanol plants struggle. After yesterday's report, funds covered May corn contracts and sold July and Decembe...
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.