Yesterday’s Corp Conditions report from USDA reflected the positive impact recent precipitation has had on crops, with conditions for corn, soybeans, and spring wheat all rebounding. That, as expected, pressured markets overnight but that weakness was short-lived as new weather threats continue to emerge. The 1-3-day precipitation outlook features heavy showers for the southwestern Plains and southeast Corn Belt but very light volumes elsewhere, most notably drought-beleaguered Iowa, Illinois, and Missouri. Additionally, the forecast turns much hotter and drier for most of the major crop-producing regions over the 6-10 and 8-14-day forecasts. That hot, dry trend will occur as the last half of the corn crop pollinates and soybeans hit...
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.