The CBOT was mostly red to start the week with energy and outside markets pressuring futures. Corn, wheat, and soybeans all stuck to their recent trading ranges, however, and meaningful, new technical developments were few on Monday. Chinese soybean crushing margins are improving with stronger Dalian soymeal and soyoil prices, which is helping bolster demand for U.S. product. Through December or even mid-January, the U.S. PNW and Gulf are the cheapest origins for soybeans, which should push additional demand to the U.S. Soyoil futures were sharply lower to start the week, which will be a headwind for soybeans if the trend continues. Funds were modest net sellers for the day and the Goldman roll from September futures forward continue...
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.