Soybeans Market Overview Chinese buyers were not very active last week and the Brazilian real depreciated strongly against the U.S. dollar, falling from 4.42 reals/U.S. dollar to 4.5. In the second half of 2019, analysts were predicting an exchange rate of around 3.8 reals/U.S. dollar once Brazil’s pension reform was approved. The reform did finally pass, but the currency did not strengthen as expected. The weaker real has, of course, been great for Brazilian farmers, who sell crops in reals, as their income has not dropped significantly. The decline in CBOT futures was largely offset by the depreciating currency, leaving farm incomes mostly unchanged. Brazil Farmer selling has been active in recent weeks, trading an average...
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.