Russian Grain Markets: 18–22 March 2024 The Russian domestic grain market saw depreciation of milling wheat and a slight depreciation of feed wheat, while feed corn also started to appreciate - most probably because of softer export duties. For the upcoming week, exports of feed corn from Russia will be duty free. High stocks are putting additional pressure on the market and especially for wheat. Rumors have it that some of Russia’s large grain trading companies are facing difficulties which will also influence demand, especially on the domestic market. Recall that Russia introduced the tariff quotas for grain exports which set certain restrictions on grain exports until 30 June 2024. The above quota is 24 MMT for grain...
What You Need to Know Today: Corn, wheat, and the soy complex all formed new contract or at least rally highs to close what has become one of the most uniformly bullish weeks in CBOT history. Escalations in the fighting between Russia and Ukraine and attacks on civilian merchant vessels show n...
Macro: Trade Flows Set the Tone Persian Gulf crude flows appear to be improving, with anecdotal estimates suggesting as much as 7–8 million barrels per day may now be leaving the region — nearly double the mid-July pace. That helps explain why crude has not maintained the full geopo...
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.