Today was mildly volatile in the market with closing gains limited to soyoil and ethanol, purportedly due to their relationship to elevated petroleum prices. But that is a loose association in a market where overall demand has practically collapsed. Higher petroleum prices can be helpful in ordinary markets, but this is no ordinary market. The price of petroleum was up a record 30 percent at one point on assertions by President Trump that he thinks he can get Russia and Saudi Arabia to agree to a production cut of 10 million barrels/day, and boastfully perhaps 15 million barrels/day. By the end of the session, petroleum was up around 20 percent. Corn opened down but caught the petroleum bug briefly posting a 10-cent gain that...
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.