The Pro Farmer Midwest Crop Tour kicks off this week, and already there are reports of the analysts finding problems in the fields with immaturity, of course, being one of them. They cite dry soils, inconsistencies across fields, disease and a preliminary average corn yield of 151.50 bushels/acre (BPA) in Ohio. That is 8.5 bushels below USDA’s August WASDE estimate of 160 BPA for the state. In South Dakota, the tour’s predicted corn yield for just the southeast corner of the state is 151 BPA versus a USDA statewide forecast of 157 BPA. The crop tour can impact the futures market, particularly when there is little other news to influence it. However, that raises questions about the tour’s accuracy. It has become much more...
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.