The CBOT started the day with a higher tone after Russia confirmed that it will be leaving the Black Sea export corridor agreement, which ended Monday, 17 July. The markets followed a classic “buy the rumor, sell the fact” trading pattern and ended lower after fears of grain supply issues subsided. The focus for the day’s trade seemed to quickly shift towards estimating the U.S. crop size and looking at the slow pace so far of U.S. wheat exports. Funds were net sellers for the day in corn and wheat but cautiously expanded soybean longs. The Black Sea export corridor agreement has unofficially ended almost a year after it started with Russia refusing to renew the deal before the 17 July deadline. Moscow repeatedly th...
What You Need to Know Today: The U.S. and Iran exchanged strikes, with the U.S. hitting Iranian bridges, energy sites, and military infrastructure. Iran launched a missile into Kuwait that damaged a desalination plant. Crude oil futures surged on heightened Middle East tensions, providing supp...
Key Takeaways: The EU heatwaves have coincided with key maize crop reproductive timing and featured high nighttime temperatures, a cruel two-sided blow to maize yields. France, much of western Europe, and Hungary have suffered the worst of the heat, with yield potential collapsing. WPI&r...
Congress returned this week from its Fourth of July recess, with another break scheduled for the month of August, to face a busy agenda before adjourning for the August recess. Congress has several priorities, including the National Defense Authorization Act, a potential third reconciliation pa...
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.