After yesterday’s bullish WASDE sparked massive rallies at the CBOT, ag markets calmed today and looked to be establishing new trading ranges. As WPI has frequently pointed out, bull markets will often rest and consolidate for a period following sharp rallies before beginning another move higher. That appears to be what the markets are currently thinking, with soybeans and Chicago wheat ending lower for the day and corn settled near the bottom end of its trading range. Funds were net sellers for the day, booking profits while awaiting Brazilian harvest data and signs that current prices are rationing demand. Funds sold some 20,000 contracts of corn and soybeans, along with 7,000 contracts of wheat. Funds were net sellers in soy...
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.