Palm oil was really the star of Tuesday’s commodity trade as the market rallied on the heels of dry weather threatening Malaysia’s 2024 production. The strength in palm oil spilled over into the soy complex and all three legs of the soybean crush turned higher with meaningful bullish technical developments. Soybeans broke their resistance trendline that has been in place since harvest time and the soyoil market bested technical resistance levels of its own. The risk now is that increasingly bullish technicals will force funds to start cutting back their massive short position in soybeans, possibly creating a swift and explosive rally. While all eyes were on the soybean market for the day, corn and wheat were mostly steady...
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.