Russian Grain Markets: 14-18 October 2019 Domestic Russian grain prices (excluding corn) continue to grow due to active demand from both domestic buyers and foreign importers. Corn prices decreased due to a progressing harvest that resulted in growing offers. Milling wheat export prices grew sharply and amounted to $206/MT FOB Black Sea. Purchase prices grew to RUB 12,000-12,400/MT. Feed barley average export price grew to $184/MT FOB Black Sea while average purchase price remained at RUB 10,600/MT CPT-port Black Sea. Corn average export price remained at $166/MT FOB Black Sea. GEOGRAPHICALLY 3rd grade soft milling wheat prices grew in all regions: Central and Black Soil (+RUB 100-140/MT), Southern (+RUB 200/MT), Volga Vall...
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
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.