The CBOT started out strong but pulled back on quiet volumes and limited follow-through buying. Buyers are looking at early forecasts for ample grain and oilseed supplies in 2021/22 and see no reason to chase the market higher heading into the April WASDE. USDA’s April report is generally neutral the markets with the major surprises often saved for the May report. CBOT volume has been mostly spread trade and position squaring heading into Friday’s report. Funds are thought to have bought 10,000 contracts of corn and 8,000 contracts of soybeans, while selling some 4,000-5,000 contracts of wheat. Fundamental news remains light with warm weather in the U.S. aiding fieldwork for the 2021 planting season. U.S. farmers are now...
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.