The uncertainty that Russia’s invasion has brought to agricultural markets continues. Roughly 32.9 million MT of grain has been exported from Ukraine since the Black Sea Grain Initiative (BSGI) began in July 2022. Russia refused to extend it Monday, siting the continued sanctions which target Russian leadership and financial institutions, which extended to its exclusion from the SWIFT international payment system. Russia's withdrawal from the BSGI, which includes canceling its guarantees for safe navigation, also ended a agreement between the United Nations and Moscow in which U.N. officials agreed to help Russian food and fertilizer exports reach world markets. China is a notable exception to the U.S. led effort to impose sanc...
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.