Overnight trade featured low volume and lower prices, including new contract lows for Chicago wheat. That theme carried over into the day session with soybeans the loss leader. Outside markets provided no help to the grains or soy complex today. General Comments There is a flood of chatter from the Pro Farmer crop tour, which found corn yield prospects better than last year in Indiana but worse in Nebraska. Soybean pod counts were up in both states versus a year ago. Crop yield bookmakers are now quoting odds that the USDA/NASS national average corn yield will fall 2-3 bushels/acre and the soybean yield will increase slightly in next month’s WASDE, which will be released 12 September. With the U.S. corn and soybean crops maturing faster t...
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.