GOOD MORNING, Funds were net sellers across the board yesterday except in wheat, where they were covering in short positions in front of Friday's report. Fund estimated positions include a net short 100K corn futures/options combined against an estimated 80K net long in beans. Wheat prices are beginning to turn higher from lower after correcting to the lowest end of the trading range in recent days. Wheat bulls look for lower numbers in Friday’s WASDE for Australia and Argentina due to adverse weather, while possibly increasing Russian production. In an FC Stone poll, 2019/20 Australian wheat production fell to 15.5 mmt. vs. previous 19.2 mmt. Soyoil futures are higher this morning following a firm...
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.