Overnight trade saw grain and soy prices continue the recovery that began during Wednesday’s day session, which followed the major sell-off immediately after China’s announcement very early that morning of planned import tariffs on 106 products, prominently including soybeans. Soybean futures closed 14-16 cents higher today, leaving the May contract only about 7 cents below where it closed Tuesday afternoon. Corn futures prices rebounded sharply today, closing up 8-8.5 cents. May corn actually finished 1 cent higher than its Tuesday closing. Cooler heads have prevailed with the realization that it will be a minimum of six weeks before the U.S. tariffs can actually be applied, and only after that would China impose its tar...
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.