Markets started the Sunday evening session steady to slightly easier. Selling did gain some momentum in the soy complex, and soybean futures eventually traded 6-7 cents lower. The market’s perception is that the extended weather forecasts (11-14 days out) show the possibility of increased precipitation across Argentina and southern Brazil. It’s an early weather market, and that makes for a nervous market. Wheat and corn can’t trade higher without help from soybeans. The December WASDE will be released tomorrow (expectations are discussed in today’s analysis). It’s been so long since USDA issued a bullish report that no one is willing to bet on one tomorrow. Funds started this week still short more than 130,00...
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.