Russian Grain Markets: 29 May – 2 June 2023 Russian farmers are in the final stage of spring planting. Russian Ministry of Agriculture reported that as of early June, 50.7 Mha were planted which is 92 percent of the forecast. A year ago, the planted area was 49.1 Mha. Spring grains are planted over 29 Mha or 96.7 percent of the forecast versus 27.2 Mha a year ago of which spring wheat was 13.5 MMT, barley – 7 MMT, corn – 2.5 MMT, and rice – 159,400 MT. Late May and early June remained bearish, however, the government realized, maybe too late, that the only way to speed up exports and reanimate trading this season is to soften or cancel export duties. Of course, the government has not forgotten to give a comma...
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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Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.