The fireworks started at 3 AM in the grains market this morning, coinciding with China’s announcement of retaliatory tariffs on U.S. ag products, including soybeans. The soy complex and corn markets promptly crashed, only to rally slightly during the day session. While the socks to the grains markets were clear this morning, whatever caused the livestock market to rally is cloudier. Cattle futures were down triple-digits this morning but rallied to near-limit gains in the afternoon. Lean hogs, the contract that has done little in 2017 except trend lower, started off with slow, steady gains before it too headed to post triple-digit gains and a serious turnaround on the charts. Meanwhile, today’s news didn’t se...
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.