Soybeans and corn led the CBOT higher with fund buying continuing to fuel the bullish fire. Upside breakouts on the soybean, corn, and wheat charts led to additional technical buying and December SRW wheat futures broke the $6.00 mark for the first time in two years. Spreads continue to tighten amid commercial demand and order flow for spot months. WPI cash market sources say prices are not seeing much harvest pressure as the need to fill large export bookings is keeping bids high. Chatter persists about Chinese interest in U.S. soybeans, despite the fact the country is on its Golden Week holiday for another few days. Considering the Grain Stocks report and in advance of the upcoming October WASDE, WPI has prepared fresh outlooks for the 2...
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.