The Market Wednesday’s October WASDE report was the market mover of the week. Soybean prices were already firm ahead of the report and while the wheat and corn numbers stole the show, bullish for soybeans was a 65-million-bushel reduction in forecasted U.S. production. That pushed the intraday price back above $14 and resulted in a close at $13.96/bushel. Despite ongoing efforts in China to reduce import dependency, USDA increased its estimate of Middle Kingdom soybean imports in 2022/23 by 1 MMT to 98 MMT. In a post-holiday mood, China’s soybean purchases this week have been robust. While Wednesday's WASDE provided most of the support for soybeans this week, the net change at close of business today was not much:...
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.