USDA delayed its last of the year Crop Progress report until tomorrow due to undefined “system outages.” Private analysts told Reuters that they expect the report to show 33 percent of the winter wheat crop in Good/Excellent conditions, up one point from last week’s report. Based on historical studies, a relatively low-quality condition in the fall is not determinative of yield when the crop is harvested. However, there is a stronger correlation of a lower fall quality rating and the ratio of abandoned acres. Lower quality means that when the plants emerge, fewer will have survived dormancy. However, good spring growing conditions means that those plants still growing can have good yields. There have also been years...
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...