Soymeal and Chicago wheat were the upside leaders at the CBOT on Monday. Soymeal saw a round of active short-covering and technical buying while the wheat market posted fresh contract highs on Russian export concerns. The soymeal rally helped pull soybean futures higher and near long-term technical resistance that, if broken, could carry futures to $13.00. Corn seemed to be the sell-side of wheat/corn and soy/corn spreads and could not manage much upside traction today, though breaks saw steady buying interest. Funds were net buyers for the day and are aggressively expanding their long position in soymeal. NOPA’s October crush estimates show the organization’s member crushing 184 Mbu of soybeans in the month, 2 Mbu above...
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.