THE OPEN March beans: 11 higher March meal: 2.40 higher March soyoil; 56 higher March corn: 14 higher March wheat: 2 higher The major feature of the open was the sharply higher trade in corn into new contract highs which pulled the other markets along for the ride. Surprisingly, the early strength did not hold, particularly for beans that turned from sharply higher trade to sharply lower, taking meal prices with it. The race between corn and bean acreage will heat up, though corn seems to be holding its own on better export sales which imply that a lower carry-out could be ahead in the WASDE report. Buy corn/sell bean trade was reinforced as the market tells farmers to plant more c...
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.