It was a reverse crush day in the soy complex with soybean futures slightly lower most of the morning and meal and oil futures a bit higher. That pattern changed late morning. General Comments Markets were quietly lower overnight and opened that way today. Corn and soybean futures continued to trade small losses much of the morning, but Kansas City wheat found a bid that brought buying to Minneapolis and Chicago. The weather forecast continues to look very wet for the hard red winter wheat region. This will keep the harvest pace slow and also continue to affect quality. World weather forecasts haven't changed much, although that depends on which ones you read. There might be some scattered rains across western Canada and Europe, but they...
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.
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...