Good Morning, Overnight prices featured a technical rebound in the soy complex while grains were slightly firmer. Prices should begin to find support at recent ranges as the July WASDE will be released next Monday and will apply the latest acreage and stocks data. Fund positions show managed money dialing back length, with funds ending last week 6/29 long 245K corn, even to slightly long wheat, long 76K beans, net long 15K meal, and net long 48K soyoil. With selling on Tuesday, these positions should look even smaller. Corn has the largest losses because it has the most length. For trends to turn, funds have to begin a liquidation phase on a fundamental outlook, which was certainly not the...
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.