Logistics are driving Argentina’s old crop corn market, and exporters are selling at negative margins. Meanwhile, new crop offers are increasing on a certain expectation. Elsewhere, the U.S. PNW is still crowding out South American soybeans, and Argentina’s local market prices are rising for several reasons. Soybeans Brazil The soybean market remains very slow in Brazil with old crop stocks becoming very expensive against U.S. Gulf (USG) offers. USG levels have been dropping from $1.57-1.58X to $1.53X CNF China for November shipments. In the meantime, Brazil was offering $1.62X for the same period with the added problem that Brazilian quality is not expected to be very good, especially for the vessels coming from Rio...
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.