Russian Grain Markets: 3 – 7 April 2023 Russia’s grain markets remained bearish the first week of April aligning with export duty behavior and local currency depreciation. For a few days prices remained stable thanks to domestic currency depreciation but the government was quick to increase the export duty for all grains thus nipping the bull in the bud. Global wheat trade showed a bearish mood. The domestic milling wheat market dropped because stocks are huge and spring planting has started. Moreover, Kazakhstan is about to decide to ban Russian wheat deliveries by road transport. Russian wheat continues enjoying demand internationally and especially in Egypt. On 6 April, GASC bought a huge amount of Russian wheat &ndas...
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...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.