Soybeans Brazil The FOB and CNF markets were very quiet last week with little movement. Chinese demand was quite slow and only on the spot. Basis rose every day due to spot interest, but nothing happened with other positions. For November and December, Brazilian basis climbed from $1.47F to $1.60F, CNF China. Similarly, Pacific Northwest (PNW) basis grew from $1.20F to $1.32F. Interestingly, these increases occurred without any significant volume traded. Sellers needed a reason to lift basis since farmers were not selling much volume on spot, especially in Brazil. Small changes in that country’s real can elicit large ones in farmer selling, and it had a significant depreciation at the beginning of the week, reaching 3.32 reals per...
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.