THE OPEN July beans: 17 higher July meal: 3.30 higher July soyoil: 1.13 higher July corn: 3 1/2 higher July wheat: 7 lower The markets opened as expected with profit-taking initially. New buying is flowing into the Dec corn and Nov bean contracts, as open interest and higher prices creates more bull market activity, thus weakening the spread trade. Volumes are increasing as more countries return from holiday, and sharply higher overseas markets spilled over into this current session. Slightly more hedging was noted on the rallies, but it still seems like selling orders are over the market. The drought situation in the Midwest and in the Northern Plains and in Brazil underpins all p...
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.