Under the seemingly endless barrage of bearish inputs and analysis, grain and soy prices have basically been headed downhill since last July. In this market environment, it should not be surprising that noncommercials, primarily funds, responded by establishing large short positions.How many words have been written during the last six months to describe the “extreme” fundamental bearishness in which grain and soy complex markets (cash and futures) are mired? It is a theme that has dominated market analysis commentary from all sources, virtually to the exclusion of anything else. The litany of details has been endlessly described: expanded planted area; favorable weather; very large world grain and soybean production for three consecutive ye...
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.