The CBOT was fully in WASDE-preparation mode on Wednesday with grain and oilseed futures little changed by the day’s end. Corn and wheat were weaker for most of the day while soybeans and soymeal firmed as profit taking worked against soyoil. Livestock futures turned lower as cash cattle trade remains quiet/lower and hogs are struggling to find bullish news. Fundamental news was light for grain/livestock markets and the focus was entirely on tomorrow’s WASDE. With COVID-19 quarantines and outbreaks fading in the rearview mirror (so far, at least), American meat packers are operating at 95 percent of full capacity, per USDA Secretary Perdue’s comments yesterday. Of note for world commodity markets is Goldman S...
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.