The big development at the CBOT on Wednesday was the lower close and apparent “hook reversal” in wheat futures, which initially traded higher but settled in the red. After their meteoric rise, wheat futures now look “toppy” with traders unsure whether the fundamentals (especially in the U.S.) justify current valuations. In response, bulls were unwilling to chase the market on Wednesday, and wheat futures pulled back. While wheat was lower, the corn and soybean markets turned higher with soybeans receiving a boost from rumors that China booked somewhere between 2-8 vessels of soybeans from the PNW in recent days. The economics certainly justify such trades on paper, and that gave a boost to old crop markets. Co...
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.