The CBOT started the overnight and day sessions with pronounced weakness and follow-through selling from Thursday’s collapse in grain values. That selling did not last past midday, however, and the major ag markets posted a strong recovery by the closing bell. Perhaps the most impressive turnaround came in the corn market where a break to the lowest price in January 2022 (before the Russian invasion of Ukraine) found buying interest and resulted in a hook reversal on the charts. There’s still plenty of pressure from Brazil’s massive safrinha crop and weaker Chinese prices, however, and so it remains to be seen whether Friday’s rally will truly result in sideways/higher trade. The soy complex also caught a bid with no...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
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.