WPI is not alone in pegging corn as the potential “sleeper” crop in MY 2018/19. World corn ending supplies have been edging lower in the past few years, and that decline will gain speed with the sharp drop in Argentine production, a smaller crop in Brazil and increased consumption in China. USDA will release its first estimate of 2018 U.S. corn plantings at the end of this month. WPI believes the planted area could be down 1.7 million acres from last year. That is based on more soybean and spring wheat acres because of price relationships as well as the high cost of planting and producing a corn crop. We are also doubtful that the string of record corn yields can extend another year. The western Corn Belt will enter the spring...
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.