Russian Grain Markets: 23-27 May 2022 Russian weather forecasting center chief Roman Wilfand is predicting a good grains and oilseeds crop this season. Cool temperatures in May are not critical as long as there is sufficient moisture in the soil. This season temperatures were mild and there were no major temperature jumps which harm the crop traditionally. The Minister of Agriculture Dmitriy Patrushev believes the 2022 grain crop may beat the that of 2021 and reach 130 MMT of which 87 MMT will be wheat. Local grain analysts believe production can be as high as 86 MMT. However, if during the next couple of months there is sufficient rainfall, the wheat crop may hit a record 88 MMT, thus bringing grain production in Russia to a long dreamt...
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.