The CBOT opened as called in today’s Technical Perspectives with the soy complex moving higher and corn and wheat lower. The trend changed by mid-day, however, when Chicago and Kansas City wheat firmed. Despite increasing competitiveness at the U.S. Gulf, corn futures were on the sell side of corn/wheat spread trade and soybeans and soymeal were similarly sold amid support for soyoil. Technical conditions continue to deteriorate for corn and soybeans, leading funds to become more pessimistic. Market chatter centered around early rumors that U.S. Commerce Secretary Ross granted some exemptions to China’s Hauwei blacklist that were discussed by Presidents Trump and Xi in June. Later, Reuters cited White House sources as say...
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.