Changes to U.S. 2017/18 supply/demand balances were small. The estimated U.S. wheat carryout was raised a net 6 million bushels. Exports were lowered 15 million bushels to 910 million bushels, while food use was raised 8 million bushels and seed use increased by 1 million bushels. The U.S. corn balance was unchanged, and the soybean carryout was lowered 20 million bushels, solely as a result of a 20 million bushel increase to the crush that puts it at 1.990 billion bushels. Changes to ending world stocks for 2017/18 were also small. World corn stocks were lowered about 3 MMT from April, wheat stocks were down 700,000 MT, and soybean stocks were increased by 1.4 MMT. Brazil’s soybean production was up 2 MMT to 117 MMT, which matches t...
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.