Soybeans Brazil The Brazilian market resumed activity last week as Chinese demand returned. There were some trades on the spot for November at $1.58-1.60X CNF to China, which were a drop from those some weeks ago at $1.65-1.67X for similar positions. Brazil was forced to drop offers as U.S. Gulf (USG) prices were weaker and PNW prices remained very competitive. The Brazilian real has weakened sharply against the USD in the past few weeks, falling from 3.15 to 3.29, and that has promoted farmer selling. Farmers’ incomes have improved substantially, especially considering the firming CBOT prices. These factors pushed trading houses to drop offers and compete against USG. Even though Chinese buyers are complaining about the Brazilian...
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.