The CBOT was heavily influenced by outside markets on Friday, especially the crude oil rally stemming from Biden administration comments about a looming Russian invasion of Ukraine. Crude oil futures pushed sharply higher and supported soyoil, which in turn gave late-day strength to soybeans. The soybean and corn markets seemingly shrugged off yesterday’s technical reversals and ended the week on a positive note. Wheat futures surged higher as the Black Sea tensions are once again suggestive of restricted wheat supplies from the region. Trading volume was lighter than the past two days across the board as traders booked some profits and waited to see the weekend’s weather in South America before recommitting to positions. ...
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.