Markets started the week sharply steady in the Sunday evening session, and they then opened this morning basically steady with no evidence of any pent-up weekend hedge pressure. Weather across the northern Plains was generally warm, dry and windy, but it was wet across the central parts of the Corn Belt with rain causing some harvest delays. Temperatures across the northern half of the U.S. are now supposed to drop back to “normal” with daytime highs in the 40s (F) instead of the 60s (F). There were no daily export sales announced this morning. Managed funds reportedly started this week short 82,000 contracts of Chicago wheat futures and 186,000 contracts of corn futures after increasing these short positions last week. They ar...
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.