Ultimately, demand is just as important a market factor as supply, but it is often more difficult to quantify with its ever-changing array of variables.In yesterday's USDA weekly crop condition report, the good/excellent ratings for corn and soybeans were unchanged from the previous report at 69 percent and 62 percent, respectively. This has done nothing to quell the debate over yield and production prospects in the wake of the stretch of extremely wet weather conditions that have prevailed over portions of the Corn Belt since late May. Adding to the uncertainty is the supplementary survey of planted acreage that USDA will conduct in areas where wet conditions likely caused changes from what producers reported as of 1 June. The primary ques...
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.
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...