The CBOT was higher to end the week with short covering and modest fund buying occurring ahead of the three-day weekend. Trading was generally slow, and volumes were light as few are looking to add risk heading into a weekend where a possible Russian invasion of Ukraine will be the focus. Tensions are growing in eastern Ukraine as ethnic Russians are provoking the issue with a car bomb that was detonated Thursday evening. There has been speculation that Russia will use instability in Ukraine (instability that it is largely creating) as an excuse to invade the country. Heading into the weekend, funds are thought to have bought 5,000 contracts of wheat (mostly HRW) along with 8,000 contracts of corn and 6,000 contracts of soybeans. Mar...
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.