Wheat Argentine farmers have harvested 680,000 hectares of wheat, which equates to 10.5 percent of the planted area. Rains fell during the last two weeks bringing some relief to areas afflicted by drought and heat. The Buenos Aires Grain Exchange is still estimating the crop at 19.8 MT, while the market thinks production will be 20-21 MMT. Exporters are respecting their agreement with the government and have not declared additional export sales. The last declaration was on 14 October when the declared volume reached 9.06 MMT. Exporters are, in a sense, long two markets right now. They still are not selling the 9.06 MMT already declared in the FOB market and have bought about 9.5 MMT in the FAS market. Consequently, they are long ca...
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.