Rain in Argentina is threatening the wheat and barley crops, while the country’s corn market remains well supplied and low priced. Meanwhile, interesting market spreads are developing between South American and U.S. soybeans. Soybeans Global Market Spreads The soybean market was active for spot positions last week with trades for U.S., Brazilian and Uruguayan origins. Chinese crush margins were good in the first half of the week at about $23-25/MT on spot positions, but rising CBOT prices in the latter half pressured margins somewhat. The main activity was concentrated in the Pacific Northwest (PNW) with around nine vessels traded from there at $1.45-1.50X CNF China.The PNW has had clear advantage as the cheapest origin for the past seve...
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.