Soybeans Brazil The Brazilian market was almost entirely dead last week with Chinese buyers sidelined and not bidding on any position. Their absence has persisted for two weeks now, concerning several exporters. The situation is compounded by a lack of farmer selling (due to the strong Brazilian real). Consequently, the market remains at a standstill. The problem is that exporters need to move their logistics, and WPI believes they hold a 2-MMT long position in old crop soybeans. That is mostly for nearby deliveries and one of the reasons why the nearby market is receiving pressure. Last week the main activity was rolling positions forward. Several trading houses had to roll from July to August and pay 9 cents for 20 days, while rol...
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.