The day session saw a more decisive downdraft for grain and soy prices. Support from the cash meal market seems to be in rapid decline. Without that support, soybean prices were under pressure and were unable to provide the upside leadership that the grains have relied on. General Comments The overnight session saw grain and soy prices work lower, led by weaker soybeans and soymeal. The cash meal basis has weakened, and processors are eager enough to lock in the current very fancy crush margins that many have become aggressive sellers of meal at levels below published offers. The market seems to be signaling that the soymeal supply crunch is being resolved. Corn futures traded in a narrow range overnight but in moderate volume, while whea...
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.