Russian Grain and Oilseed Markets: 1–5 May 2023 Russia’s grain markets remain bearish. Russia is struggling with low prices for grains for domestic farmers and is not receiving sufficient revenue through export duties. Moreover, 1–9 May was a holiday season in Russia making it is very difficult to do business. Weather conditions in some areas of Russia are abnormal from frost to drought but recent rains in the south, Black Soil, and Volga Valley keep the overall forecasts for the 2023 grain crop positive. The factors which impact prices in Russia’s Black Sea area are still the same: export duties, RUB exchange rate, stocks which, especially for wheat, are record high, and Russia’s rhetoric around the UN...
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...
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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.