The Market Soymeal drove ever higher this week but soybeans and soyoil took it in the shorts, so to speak. Soybeans continue to be pressured by Brazil’s onslaught, as delayed as that has been. Some complain that it is EPA’s bearish RVO targets too blame for soyoil’s demise. However, forward curve pricing indicates canola prices will slide lower as well. Also weighing on soybean prices is the storage shortage in Brazil. With nowhere to park their bounty, farmers are forced to sell sooner. For the week, May soybeans lost 11.75 cents and May soyoil gave up 4.58 cents. May meal was the exception, adding $4.60/ST. But no worries, speculators continue to add to their long positions. CFTC reports they raised their net long in b...
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.