Overnight trading saw markets firm after yesterday’s higher close in corn. Commercial pricing was heavy yesterday in the corn market and the overnight session continued that trend. Wheat futures were higher as well in a dead-cat bounce from technically oversold conditions and firmer UK feed wheat and Paris wheat futures overnight. The soy complex was higher as well, despite continued weakness in palm oil futures. The day session featured light volume and higher prices as the questioning of USDAs’ 91.7 million corn acres intensifies. Given the good odds that USDA will lower its acreage estimate in the pending follow-up survey, the market is now looking to see how bullish that figure might be. Stronger basis across th...
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.