Triggered by unexpectedly large export sales and helped along by fund buying, corn futures closed up more than 7 cents and near session highs. Soybean futures finished about 12 cents higher, and meal was up $4.00. General Comments Stats Canada released the following December crop production estimates today:Except for barley, all of the December production estimates are greater than October's. All wheat production of 29.280 MMT and canola production of 15.555 MMT were both higher than expected. USDA has been using a Canadian wheat number of 27.5 MMT, so that will increase in the December WASDE. The wheat estimate suggests that 23 MMT should be available for export. The December canola production estimate is more than 1 MMT higher tha...
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.