No Huge Changes in USDA Soy Forecasts Anyone expecting major changes for the U.S. and global soybean supply/demand situation in today’s USDA crop production and WASDE reports was disappointed. The estimate for the U.S. 2017 crop was reduced by 5 million bushels, and ending stocks were cut by a like amount to 425 million bushels since all other categories were left unchanged. USDA raised its forecast for average soybean yields in 10 states and lowered them in another 10, but the national average was almost the same at 49.5 bushels/acre. The most notable increases were a 2-bushel gain to 58 bushels/acre in Nebraska and the 1-bushel boost to 58 bushels/acre in Illinois. The largest reduction was a 4-bushel cut to 45 bushels/acre in Mich...
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.