The CBOT opened with soybeans moving higher on a combination of short covering, improving technical conditions, and rumors of Chinese purchases of U.S. soybeans. WPI sources note that China secured several (at least 5 and possibly up to 15 cargoes?) of U.S. soybeans in recent days with duty-free import quotas having been granted to U.S. companies. Reuters reported that China has granted 1 MMT of duty-free imports to U.S. firms. The grain markets were steady/weaker with little fundamental news or reasoning to move one way or the other. Long soy complex/short corn/wheat trade sent the latter two commodities lower for the day. The weekly Export Inspections report showed slight improvements in corn shipments, with 18.9 million bushels (m...
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.