Overnight futures trade showed mixed results as the session recessed. Soybeans were higher by a few cents, but corn and wheat traded lower. The world oilseed sector is being supported by surging crude oil prices, which saw Brent crude trade as high as $82.55 after OPEC decided to leave its production unchanged even though U.S. sanctions will likely cut Iran’s exports. The gap between crude oil and palm/soyoil is historically wide, leading KL palm oil futures to a sharp rally. Soyoil futures ended today up only 10-13 points, however. Day session trading produced mixed results as well. Soybean prices popped up about 17 cents just after the opening but retreated to close about where they were following the overnight session. November so...
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.