OCBC’s cautious sector outlook comes ahead of China’s July 6 implementation of 25% tariffs on US goods, including soybeans, which has prompted US soybean futures to fall to a low of about US$852/bushel.
SINGAPORE (June 27): OCBC Investment Research is maintaining “neutral” on soft commodities with Wilmar International as its top sector pick due to its more diversified operations compared to industry peers.
The counter has been rated “buy” with an unchanged fair value estimate of $3.51.
