According to the Purdue University/CME Ag Economy Barometer, farmers’ outlook is at its lowest level post COVID. The index was 113 in March, which is down 12 points from February and 36 points from March 2021. It is the lowest since April 2020 when the index was 96 – which was the only time since 2016 that the index was below 100. The March index came from a producer survey conducted 14-18 March – about three weeks after the Russian invasion of the Ukraine. A question about the impact of the war was added to the survey. Some topline take aways are below: The Barometer is based on farmers’ perspective on current conditions, expectations for future conditions, and includes a Farm Financial Performance Index, 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.