Both winter and spring wheat area is likely to decrease again from last year’s record low. The reasons are many and include...Last Friday’s USDA reports again contained disappointing numbers for wheat, especially hard red spring (HRS) wheat. While total U.S. wheat production was increased by an insignificant two million bushels, the HRS wheat estimate rose by 21 million bushels (10.5 MMT), from 364 million bushels in previous reports to 385 million bushels in the annual small grains summary. That is still down from 500 million bushels (13.6 MMT) from 2016. Increased yield estimates in North Dakota and Minnesota offset smaller than expected harvested acreage adjustments.Minneapolis wheat futures, the HRS wheat contract, dropped 35 cents afte...
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.