The CBOT saw widespread two-sided trade on Tuesday with overnight gains fading quickly after the morning session opened. Markets eventually found a bid near mid-day, however, and corn, soybeans, and Chicago wheat all settled higher for the day. Funds were slight net buyers in those three commodities as world fundamentals continue to tilt to the bullish side. KCBT wheat was lower on the reversal of old long KC/short Chicago spreads with spring wheat also finding some pressure under better weather forecasts. There was little fresh news for the day and traders remain focused on exports, the 2023 Northern Hemisphere planting outlook, and the political outlook for the Black Sea grain export corridor. The major concern for the U.S. spring...
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.