There is not much to say about today’s grain and soy futures markets. Traders are cautious ahead of tomorrow’s November WASDE, much as they should be even though no fireworks are expected. The market consensus seems to be that the yield, production and ending stocks for corn will be raised slightly and that for soybeans will be lowered slightly. None of the expected changes would be big enough to materially change the overall supply/demand outlook in market-moving ways. The relatively slow pace of corn and soybean exports might cause USDA analysts to lower those 2017/18 estimates somewhat, which could add to ending stocks of corn and offset most or all of any decline in soybean supplies. Any other supply/demand changes are expec...
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.