The CBOT flinched early as USDA announced that China cancelled 140,000 MT of corn export bookings from the U.S., but later rallied on strong cash markets and fund buying. Bear old crop/new crop spreads were a popular trade on Wednesday with traders taking advantage of the huge inverse in the corn, soybean, and soyoil markets. Funds are thought to have bought 10,000 contracts of wheat while being slight net sellers in corn and soybeans. Looking ahead, WPI expects the CBOT rally to continue into and possibly through the U.S. 2021 growing season. Old crop corn and soybean supplies are tight and Chinese demand has not slowed as much as might be expected given this year’s rally. The market’s immediate focus is on the fin...
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.