USDA’s Grain Stocks report was slightly bearish corn and soybeans while the stocks and small grains reports were supportive wheat. Currently, December corn futures are down 5 ¼ cents while November soybeans are off 7 ¾ cents. December SRW wheat is up 1 cent while HRW futures are largely unchanged after earlier gains. Corn USDA said 2017/18 stocks as of 1 September totaled 2.14 billion bushels, down 7 percent from last year and above traders’ average expectation of 2.002 billion bushels. On-farm storage totaled 620 million bushels, down 21 percent from last year. The report featured aggressive disappearance, highlighted in the weekly Export Sales report, as the June-August 2018 disappearance tot...
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.