The day’s most active futures market was MGEX spring wheat. With building evidence that this year’s HRW crop will likely be unusually low in protein content as well as being small, millers are buying MGEX futures as the only guaranteed source of higher protein wheat. General Comments To be blunt but honest, today’s grain and soy markets were just plain dull. CME winter wheat contracts traded in a range of 5.5-6.5 cents with Chicago July closing 3 cents higher and KC July up 2.25 cents. That was just about today’s most exciting activity. July soybeans managed a 9 cent trading range before closing unchanged. November soybeans traded in a range of 8.25 cents and then closed down a half-cent. The corn market with its 2.75 cent trading range w...
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.