CME grain and soy futures struggled to find volume and price direction amid the continued lack of inputs from USDA and with little else to lead them. Trading volume today can best be described as awful. Prices moved slightly lower, mostly as a result of neglect, and remained range-bound during the day session with limited movement. Wheat stayed within a 7.5-8 cent trading range with just about all prices finishing slightly lower to break a five-day streak of higher closes. Corn was stuck in a 4-cent range that resulted in the spot March contract closing 1.75 cents lower with December down 1.5 cents. The soybean market traded in a range of 10 cents or less, but the day ended with spot March up a single penny and November barely changed with...
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.