Russian Grain Markets: 19–23 August 2024 Kazakhstan announced they will close the borders with Russia for wheat from now until 31 December. This will put even more pressure on the Russian wheat market and may push them to offer softer offers for GASC tenders where they are the key players. In addition, Russian government sales of intervention stocks, which is so far only 18,900 MT a week, are dumping more milling wheat on the market. Kazakhstan fears grey imports of wheat from Russia will have a negative effect on farmers in Kazakhstan even though both countries are members of the same Customs Union and trade is duty free. Kazakhstan woke up to the fact that during the first half of 2024 Kazakhstan imported 1.3 MMT of wheat wh...
What You Need to Know Today: Agricultural commodities were mostly lower on the day, with red-hot soyoil a notable exception. Export sales were a bit underwhelming, particularly for corn with export sales down 52 percent week-over-week. The weakness in ag markets tracked crude oil weakness wit...
With the war in Iran affecting fuel and fertilizer prices, higher tariffs, weak commodity prices, ag labor constraints, and other factors, farm bankruptcies are now at a 6-year high, a signal of growing stress. During the month of April, 62 Chapter 12 bankruptcies were filed, which is a 1...
WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporates the energy market’s expanding influence on the oilseed sector and the structural changes in global biofuel demand. This report is i...
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.