Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA The owners of the container ship that blocked the Suez Canal – Ever Given – are claiming that the Suez Canal Authority (SCA) is at fault for allowing the vessel to enter the canal during very bad weather and extremely high crosswinds. The owners also say the vessel was to have had two tugboats alongside, but these were not provided by SCA. The SCA is claiming $916 million against the owner and the vessel continues to be held in Egypt. Recent reports have the SCA claim being reduced to $550 million. Courts in Egypt have also ruled that the vessel can continue to be detained but there were stories that the vessel may be released against a $200 million security deposit...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.