THE OPEN Beans: 1 1/2 lower Meal: 1.50 lower Soyoil: 13 higher Corn: steady Wheat: 7 lower The major features of the open included higher oilshare values and weaker wheat versus the rest of the board. The markets continued to move lower with oilshare stronger as meal prices worked lower. Current weather forecasts feature dryness across the center to eastern Corn Belt for the next 5 days, but moderate temperatures are creating a buffer to crop deterioration. Some were thinking that the start of a new month would bring in price stability, but expanding open interest implied that new shorts are on board along with liquidating longs, which was expanding the downsid...
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.
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...