It was a classic Turnaround Tuesday at the CBOT with yesterday’s weakness attracting end user demand. As WPI’s Jody Lefcourt noted earlier today, strong bull markets often have sharp pullbacks that find enough support to continue the rally. That trend appears to be working in the CBOT presently, though WPI continues to note that, with U.S. supplies determined now, bull markets will require continued positive demand-side news. China is rumored to still be in the U.S. markets and has reportedly booked a few vessels of soybeans from the PNW. The corn and soybean crops are all but completely mature as of USDA’s latest Crop Progress report, with 94 percent of U.S. corn rated mature and 93 percent of soybeans dropping lea...
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.