Overnight volume was big with markets down significantly on the heels of the U.S. equity markets’ collapse after commodity trading closed yesterday. It is all about the announced tariffs against some products from China and how this pending trade war might interfere with U.S. soybean and soymeal exports to that country. So far, China has not officially named U.S. soybeans in a retaliatory measure, but that danger is a clear and present fear. Meanwhile, the president tweeted this morning that he might veto the just-passed spending bill because it failed to address the “dreamers” and the “wall.” That would have forced a government shutdown, but he did eventually sign it. There wasn’t much change in weather...
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.
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...