It was a very dull day of trading in which commercials were largely hands off and funds were net buyers of minor quantities. Collectively, managed funds have cast their lot on the short side of the corn and wheat markets in a big way and greatly reduced their soybean long position. General Comments It was not exactly a classic Turnaround Tuesday, but corn, wheat and soybean futures prices all closed slightly higher today. The only closing numbers that were not green (higher) on our screen were May and August soymeal, which closed unchanged. For the record, July meal closed up $0.20. Today’s gains were small and some were hard fought, but at least they were gains two days before Friday’s key reports. Volume was very light, and trading rang...
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.