The Commodity Futures Trading Commission’s (CFTC’s) latest Commitment of Traders (COT) report of 10 November covered futures and options positions through 7 November. In other words, it did not include trading activities in the wake of USDA’s November WASDE that was issued midday on 9 November. Based on that COT and a rough estimate of trading activity since 7 November, we estimate that noncommercials hold the following aggregated net futures and options positions in grain and soy markets: Chicago wheat - short 140,000 contracts KC wheat - short 20,000 Corn - short 230,000 Soybeans - 45,000 Soymeal - long 6,000 Soyoil - long 40,000 While it is certainly true that quite a few hedge funds and managed noncommercial mon...
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.