The CBOT was mixed to start WASDE week with the soy complex pushing lower under the threat of larger yield projections, which pulled corn lower too. Wheat futures rose modestly on expectations that USDA will cut the Russian wheat crop and its export program, thereby tightening world supplies. Traders were specifically focused on exiting soybean positions or getting short that market ahead of the report, and bear soy/corn and soy/wheat spreads helped stabilize the grain markets. Funds were strong net sellers in the soy complex for the day while remaining relatively flat corn and wheat. The weekly Export Inspections report was bearish corn and wheat while remaining neutral soybeans. Corn and wheat inspections missed their weekly target...
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.