These acreage estimates for corn and soybeans have also taken on more importance because we are starting to see some doubt expressed over the latest USDA yield estimates for both crops due to the impact of the late planting and heavy rains.In addition to its quarterly stocks report, USDA will release its updated June acreage estimates tomorrow. These numbers will also be very closely scrutinized, especially the soybean acreage estimate. The reason is the problem that the wettest month of May on record across the Corn Belt created by delaying the end of corn and soybean planting. June has also been extremely wet across the eastern two-thirds of the Corn Belt. The states most impacted by the rains and slow planting progress are Illinois, Miss...
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.