GOOD MORNING, The Coronavirus continues to impact markets across the board creating more liquidation. The death toll passed 3,000 today, after more people died in China and US authorities confirmed a second fatality. Wheat and soyoil bulls spent last week in liquidation mode, as oilshare traded to new lows as well. Meal shorts were liquidating as Argentina restructured its export taxes, and not one but two Argentine crushers announced that they were in financial trouble. Grains sales in Argentina remain at a standstill as of now which is bringing more support to US prices. This morning, meal prices hit a new chart high, which underpinned beans. Oilshare fell as NOPA stocks have been larger and en...
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.