Yesterday’s 3 percent decrease in corn conditions ratings spooked corn bears and prompted a notable round of short-covering at the CBOT, both in the overnight session (where corn, soybeans, and Chicago wheat all ended ~5 cents higher) and the day session. The market’s move higher was helped at mid-day by a newswire that suggested China will return to purchasing U.S. agricultural products, presumably in the near-term. The news was cited as an effort to thaw political tensions ahead of the pending U.S.-China trade negotiation meetings in October. U.S. soybeans are a comparative bargain versus Brazil and Argentine-origin product, but China is still more likely to secure pork and beef. Chinese officials have indicated...
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.