The CBOT pushed higher overnight with corn notching a new four-month high and wheat futures extending their rally, but that strength quickly faded during the day session. One of the biggest drivers for the day’s declines was the failure of used cooking oil to be included in the Biden Administration’s list of new tariffs on Chinese products. That caused a sharp selloff in soyoil and dragged soybeans lower as well. Additional weakness came from upward revisions to the Brazilian corn and soybean crops from Conab, and from better-than-expected progress in Monday’s Crop Progress/Conditions reports. Funds were light net sellers for the day but were generally reluctant to add much back to the short positions they just recently ex...
What You Need to Know Today: The surprises from the USDA’s Acreage report were a sharp reduction in winter wheat area from the March Prospective Plantings estimates and a larger-than-expected increase in corn area. The Grain Stocks report offered relatively few surprises, but quarterly d...
On Monday, the Trump Administration suspended the countervailing duties (CVDs) on phosphate fertilizer imports from Morocco via Executive Order. The CVDs were imposed in 2021 by the Biden Administration and were subject to a routine five-year sunset review. According to the Agricultural and Foo...
Key Takeaways: High oleic soybeans produce oil containing 70–80 percent oleic acid, improving stability and eliminating the need for partial hydrogenation, which eliminates trans fats. There are three primary varieties of high oleic soybeans available commercially: Plenish, Vistive Gold,...
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.