The Market For the week, July soybeans rose 20 cents (1.6 percent) to 1248/bushel. The November soybean contract added 16.25 cents. U.S. soybean futures were buoyed by problems in Brazil where rains and flooding has damaged oilseed infrastructure, and reduced soybean quality. There were also rumors that China has purchased 2-6 cargoes of soybeans off the West Coast. The crush margin at $1.81 is attractive and July soymeal gained $17.70 (4.8 percent) this week to end at 386.5/ST. Soymeal is key support for the complex and the funds are perhaps net long over 100,000 contracts, the largest long since late 2023. However, they will get spanked once Argentina gets going. July soyoil lost 0.32 cents (-0.7 percent) to close out the week at 45.27/p...
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.