Because of current conditons, both Kansas City and Chicago wheat contracts will take price directions from corn contracts for a while longer as it is presently premature for them to assume an upward leadership role.Prices move higher in commodities when market conditions are such that the majority of traders buy either because they expect even higher prices or those holding short positions are forced to exit by purchasing back their contracts. In the short run, neither of those conditions seems to exist at current price levels for corn, wheat or soybeans. Therefore, a limited selloff is expected in the grains and soy complex that could last for a few weeks right into the first of August.The U.S. corn crop is poised to go into pollination wi...
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.