U.S. soybean sales are up more than 1 MMT from last year at this time. More importantly, while the market continues to expect China to slow total purchases or shift to South America, neither has happened.The U.S. soybean export situation and outlook continue to dominate the markets. While much of the recent sharp run-up in prices across the soy complex was attributed to the meal tightness in the southeastern U.S., that situation appears to have been resolved and the extent of additional rallies will be tied to soybean exports. This assumes of course that weather in South America remains "normal".Yesterday's weekly USDA export sales report again showed much larger weekly export sales than the trade expected. Sales totaled 1.6 MMT with nearly...
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.