Russian Grain Markets: 2-6 August 2021 Prices in the domestic Russian grain market grew significantly in all regions of the European part of Russia, mainly due to the growth of export prices. Export milling wheat average price increased to $268/MT FOB Black Sea. Average purchase price increased sharply and amounted to RUB 15,550/MT CPT-port Black Sea. Feed barley average export price grew to $232/MT FOB Black Sea, average purchase price to RUB 13,700/MT. Feed corn average export price grew to $270/MT FOB Black Sea. GEOGRAPHICALLY 3rd grade soft milling wheat prices decreased in the Ural region (-RUB 50/MT) and grew in other regions: in the Central (+RUB 650/MT), Black Soil (+RUB 570/MT), Southern (+RUB 915/MT), Volga Valley (+RUB 990/MT)...
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.