Friday’s weakness heading into the close created selling mentality in Monday’s CBOT trade that was combined with substantial position evening ahead of tomorrow’s WASDE. Not only will the WASDE be released tomorrow, but also the quarterly U.S. stocks report and wheat planting intentions. The set of January USDA reports is often interesting and frequently sparks significant volatility following their release. The major feature of today’s trade was some long liquidation but mostly position evening and spread trade. Bull soymeal/soyoil spreads were a favorite today in the soy complex. Despite solid corn export inspections numbers, funds took any strength as an opportunity to lighten up on longs or clean up their p...
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.