The wheat craziness continued overnight with May, July, and Sept CBOT and May, July, Sept, Dec, and Mar 2023 KCBT all locked limit-up after the overnight session. The short covering rally is being continued partly because futures keep locking at the limit bid with no one interested in selling. You can’t exit a short position without a willing seller! Paris wheat futures scored a new all-time high of €392.50/MT as the world grain rally continues. The day session saw the CBOT trade both sides of unchanged with only May Chicago wheat holding to one particular trend (locking limit up). Financial firms are reportedly struggling to meet margin calls and exiting positions is difficult, especially in wheat. There are signs, however, that...
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.