THE OPEN November beans: 6 1/2 lower December meal: 2.80 lower December soyoil: 1 lower December corn: 4 1/2 lower December wheat: 4 3/4 lower Weak price action and a poor close overnight set the stage for a continued sell-off at the open as buyers sat back and let prices drift lower. Bean and meal prices took the brunt of selling activity breaking lower support and pushing prices through recent lows to trigger sell-stops. Grains continued on a lower path as well with corn holding up at trading range lows better than beans. Commercial pricing activity for both corn and meal were active as we reached lower levels making today's fund selling activity an exchange of ownership. ...
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.