Milling Wheat The Black Sea market was slightly weaker last week in sympathy with the futures markets in Chicago and Paris. Meanwhile, the domestic market prices in Russia were $2-6/MT lower in Volga, Central and the South but $1-3/MT higher in Siberia and Ural. Russia has exported about 18 MMT so far from a surplus that is estimated at 28-33 MMT. Winter wheat planting has been completed in Romania and Bulgaria. Approximately 50 percent of the region is suffering from a severe drought that has persisted over the past two months. The wheat still has not emerged in a large portion of the area, and the crop’s condition is critical. The trade will closely monitor the weather development in the coming weeks, and the outlook is calling fo...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.