Overnight trading started higher with a dead cat bounce from Friday’s USDA-report-induced losses. The market eventually turned lower, however, and corn ended down 3 cents while SRW wheat lost 6 ¼ cents. Soybeans managed to hold small gains (4 ¼ cents) after the weekend news that President Trump and Xi had a “good” meeting at the G-20 Summit. The meeting prompted Chinese officials to claim additional purchases of U.S. agricultural products would soon occur, though details were not provided. The market’s expectation is that any such purchases will wait until after a deal is officially inked. The day session opened weaker than expected with negative technical developments on the charts leadin...
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.