Russian Grain Markets: 17–21 July 2023 Russian farmers continue harvesting winter crops and the progress is quite good with grain crop forecasts totaling 134.5 MMT of which 86.5 MMT is wheat. Local analysts increased the forecast. The worst-case scenario is 123.5 MMT of grains with 79 MMT of wheat. The barley crop is forecast at 19 MMT while corn is 15.4 MMT. The announcement of Russia quitting the Black Sea Grain Initiative (BSGI) was almost immediately followed by bombing of Odessa’s port infrastructure. Global markets reacted immediately, while Russian markets will have to adjust to step-by-step as there is no futures trading in Russia. With Russian RUB remaining relatively stable and reference prices going down, the...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.