The CBOT was mostly lower to start the week with corn futures drifting sideways while soymeal and soybeans pulled back from recent strength. Wheat futures were mostly lower, but the KCBT market managed to post a hook reversal for the day, which indicates support may be starting to enter the market. The day’s big winners were the livestock contracts, however, as lean hogs and live cattle rallied to triple-digit gains amid growing fund buying interest. Grain markets are mostly focused on the wrap-up of the Northern Hemisphere grain harvest and export demand, the latter of which offered mixed influences for grains on Monday. The CFTC report showed funds are still comfortable being short or selling longs across the board (with the notable...
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.