CBOT prices were higher today after yesterday’s selloff. There was little fundamental reason for the move, except that traders must have sold what they wanted yesterday, leaving buyers to gain a slight advantage. Commercial purchases of “cheap” corn and soybeans was notable, and helped prices move higher. On the CME side, cattle futures fought back against early weakness and moved higher into the close. Fed cattle futures are likely to continue building support while feeder cattle are headed sideways. Lean hog futures collapsed today with little fundamental reasoning. Oddly, the export potential for U.S. pork remains as high – or higher – than it has been in recent history. Wall Street is higher a...
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.