The trade will likely focus on crop production estimates for Brazil and Argentina in tomorrow’s USDA reports. Even though no one expects significant changes, very minor reductions are anticipated. Meanwhile, there is another production number that should get smaller.There shouldn’t be much action as a result of tomorrow’s USDA WASDE (supply/demand) updates. The January issue incorporated the “final” U.S. crop production estimates and the quarterly stocks numbers and also included some changes in demand. USDA reduced the corn and soybean export forecasts last month as well, and any changes tomorrow will most likely be another decrease in those same forecasts. The table below compares the average trade guess for tomorrow’s numbers with the Ja...
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.