The spring rally in the soy complex, which dragged corn and wheat along, fit nicely into the La Nina weather scenario. Funds were very early to jump on that and reversed positions in corn and soybeans to long positions. Weather forecasts and patterns change, however.Corn and soybean markets have been somewhat obsessed by the prospects for a hot, dry North American growing season ever since a private weather group predicted $7 corn futures at a grower meeting in Chicago last December. That forecast was based on the assumption of a quick weather transition from the record El Nino of last winter to a La Nina. Historically, there has been a very strong correlation between such a transition and adverse crop production weather across the Corn Bel...
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.