The CBOT opened on a high note with corn, wheat, and the entire soy complex moving strongly into positive territory. By afternoon, however, lackluster reports from the USDA Outlook Forum and profit taking ahead of the weekend pulled everything but soyoil lower and to a negative close. Traders were bull spreading soyoil/soymeal and bear spreading wheat/corn this afternoon. The USDA’s Ag Outlook Forum is wrapping up today and failed to offer the commodity markets much excitement. Yesterday’s acreage announcements were bullish soybeans and bearish corn while the release of today’s more detailed grain and oilseed balance sheets (detailed by commodity below) continued that trend with bullish interpretations for soybeans...
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.