Today’s September WASDE report reflects important adjustments in the projected ending stocks for corn, soybeans, and wheat. Overall, global stocks of soybeans and wheat were increased while that of corn fell. But the larger changes can be attributed to just a handful of countries. Though commodities are fungible, price impacts will be larger at the margins in the jurisdictions with the greater changes. Though overall 2020/21 global ending stocks for corn were lowered by more than 10 MMT, the U.S. accounted for over 60 percent of the difference and China most of the balance. They were held steady for most other countries. Excluding China, the U.S. continues to store most of the surplus with this marketing year reflecting the second la...
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.