The CBOT shrugged off rumors of Chinese purchases of U.S. sorghum and DDGS for summer shipment as risk-off and position liquidation trade developed quickly this morning. The coronavirus’ impact on the stock market has been astounding, and early weakness in equities created risk-off trade in commodities as well. With global markets volatile to say the least, traders are looking to take positions (and any profits) off the table ahead of the weekend. News broke this afternoon that China has secured several cargoes of U.S. sorghum and U.S. DDGS for summer delivery, though exporters note no corn, soybeans, or wheat have been purchased yet. WPI notes that prices for containerized DDGS to Shanghai are up $22/MT for April shipment and...
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.