Trading in Chicago was largely a one-sided affair today with cattle futures being the only market to sustain any significant closes. The aggressive fund selling this week begs the question as to their target values. WPI suspects that with some markets (soybeans, in particular) entering oversold levels, if there won’t be a short-covering rally soon. There’s just not much to excite the corn market and funds are likely to hold on to their short position there for a while longer. The Brazilian real fell to record lows today which was bearish CBOT markets. Outside markets were higher today with stocks benefiting from positive trade news, including President Trump’s comment that the U.S. and China are in the “final throes...
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.