Nearly all of the action today was in the corn pit, and there was a good volume of trade. Meanwhile, wheat finished the day with decent gains in Minneapolis and KC as both markets gained on Chicago. General Comments Markets started the week relatively quiet. Wheat and soybeans were slightly lower overnight, and corn was higher. Crude oil was weaker, losing $1.16 today, and is just under $39 a barrel. Meanwhile, financial markets in the U.S. were mixed but did not follow oil lower. Trading volume was light in wheat and soybeans but good in corn. Last Friday’s Commitment of Traders report showed funds short more corn than expected.Weather is starting to attract some attention. The U.S. southern Plains are dry again, and the southern Midwest...
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.