The CBOT marked another day of choppy, low-liquidity trading with old crop corn and wheat futures moving lower while soyoil and soybeans traded higher. New crop wheat posted 15-20 cent gains as traders are increasingly nervous about the risks (that WPI noted weeks ago) that the prolonged war in Ukraine will threaten the country’s winter wheat harvest. For the day, however, markets mostly marked time on their charts with limited follow through on rallies or breaks. For the day, funds were net sellers and shed 6,000 contracts of wheat, 14,000 contracts of corn, and 7,000 contracts of soymeal. Funds did, however, add 6,000 contracts of soyoil longs and bought 5,000 contracts of soybeans. WPI notes that one dynamic making th...
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.