Funds were selling wheat again today and had reportedly sold more than 7,000 contracts of Chicago wheat by noon. Meanwhile, soybean and soymeal futures turned higher early in today’s trade. November soybean futures traded right up to $10.20, a key technical resistance point. General Comments Markets opened slightly lower Sunday evening and remained that way throughout the night on light volume. Soybean futures turned positive at this morning’s opening and eventually traded 14-15 cents higher. Wheat was weak and corn was slightly lower much of the session. The only news is that the Pro Farmer crop tour started today with one leg in Ohio and the other in South Dakota. The groups will merge in Rochester, MN on Thursday.Crude oil was giving b...
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.