The CBOT opened higher based on short position liquidation and some short-covering in corn and wheat. As the day wore on, however, the soy complex turned lower with long traders quickly exiting soyoil positions. Wheat futures were sharply higher on a mix of positive fundamental market chatter as well as significant technical buying. On the policy front, traders were encouraged by weekend comments that Chinese officials called for the acceleration of punitive action against IP infringements. The document released Sunday was viewed as a sign that China is getting serious in its efforts to address a major hurdle to U.S.-Middle Kingdom trade negotiations. Last week, Reuters reported that talks over a phase one deal could extend into earl...
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...