The war in Ukraine, which has found Russia increasingly desperate and increasingly targeting civilians as the Ukrainian resistance stalls progress, continues to drive world grain and oilseed markets. That caused the CBOT to open sharply higher Sunday night and also sparked a rally to $130/barrel in WTI crude oil. Despite the war’s influence, however, this week is seeing the CBOT, soybeans and corn in particular, reposition to trade the March WASDE report that will come out on Wednesday. The pre-WASDE positioning trade left soybeans and corn to essentially drift sideways after two-sided trade while soyoil gained on meal via spread trade. Wheat futures ended sharply higher with the May CBOT contract settling at its limit-bid for...
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.