Grain and soy futures opened the overnight session with prices mixed before they turned lower. Fund short covering in wheat abated, and markets were pressured by good planting progress for corn and soybeans as well as an uptick in winter wheat's good/excellent rating. General Comments A fresh gust of macro wind sent the U.S. dollar surging higher and pushed many commodities, including grain and soy futures, lower. Early today, officials of the European Central Bank said they expected to expand the bank's quantitative easing program over the next several weeks to counter low economic growth from the "summer doldrums." At the same time, it was announced that the UK suffered negative price deflation in April with consumer prices down 0.1 per...
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.