The CBOT on Tuesday failed to follow Monday’s dramatic technical strength and corn, the soy complex, and wheat all settled lower for the day. A sharp pullback in crude oil prices was primarily responsible for the soy complex weakness as it eliminated a key piece of support for soyoil. In turn, soyoil’s weakness worked against the other legs of the soy crush, selling that subsequently spilled over into corn and wheat. The selling was somewhat surprising as USDA confirmed a large export sale of soybeans to China, and as market chatter suggested additional sales of up to 1 MMT. Funds were net sellers for the day as few firms are looking to expand risk significantly heading into the WASDE report next week. The winners in ag commodit...
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.