The way the futures market reacted to today USDA's reports, it seems that it was not only starved for fresh fundamental news, but it was also eager to be surprised. Today’s quarterly stocks and planting intentions estimates fulfilled both. General Comments Trading in the grains and soy complex overnight and until noon (EDT) today was muted, low volume and directionless as traders waited for USDA’s stocks and acreage reports. In the immediate wake of the report’s release, corn, soybeans and wheat all traded lower, mainly under the influence of the surprisingly large corn acreage number. Within a few minutes, though, wheat and soybean prices recovered and turned higher as traders digested the surprisingly small wheat acreage and soybean sto...
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.