Russian Grain Markets: 27-31 December 2021 The last week of December on the Russian grain market was very calm. General trends were downward. Market players are not happy with decreasing prices on the world markets and the prospect of further growth of export duties. Export milling wheat average offer price remained at $332/MT FOB Black Sea. Average purchase price grew to RUB 16,450/MT CPT-port Black Sea. Feed barley average export price grew to $288/MT FOB Black Sea; average purchase price was stable at RUB 14,800/MT. Feed corn average price remained unchanged at $272/MT FOB Black Sea while average purchase price was also stable within RUB 13,000-14,500/MT CPT-port. GEOGRAPHICALLY 3rd grade soft milling wheat prices were st...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.