Certainty over U.S. production and tentative trade overnight set the stage for long profit taking and a weaker CBOT to start the week. The soy complex sold off sharply as funds hold the greatest long in soybeans with the spot soybean contract falling 30+ cents. Corn was lower as well with the market’s attention turning to demand. Wheat was the one market to avoid much of the profit taking with SRW futures settling unchanged while the HRW market was slightly lower. Funds are thought to have sold some 15,000 contracts of corn, 17,000 contracts of soybeans, and 1,200-1,500 contracts of Chicago wheat. Over the weekend, Dr. David Nabarro with the World Health Organization (WHO) said in an interview that the WHO is now recommending a...
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.