Survey Says: U.S. Farmers Will Plant More Corn and Less Soybeans in 2019 Farmers intend to plant more corn than soybeans in 2019, according to a survey of 924 U.S. farmers done by Farm Futures from July 20 through August 2. The survey also found farmers intend to plant more winter wheat, sorghum, and cotton, but less spring wheat, durum wheat. According to the survey, farmers intend to plant 90.8 million acres of corn in 2019, an increase of 1.9 percent over 2018. Farmers intend to plan 87.5 million acres of soybeans in 2019, a decrease of 2.3 percent from 2018. Considering the sharp decline in U.S. soybean prices since China imposed its 25 percent tariff on U.S. soybeans, it is surprising farmers plan to reduce their soybean plantings 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.