Russian Grain Markets: 21-25 October 2019 Domestic Russian grain (excluding corn) prices kept growing at a higher rate than the previous week. Specifically, in Siberia there was a significant increase in prices due to active demand from Kazakhstan. Milling wheat export prices grew to $210/MT FOB Black Sea. Purchase prices grew to RUB 12,800-12,900/MT. Feed barley average export price grew to $186/MT FOB Black Sea while average purchase price remained at RUB 10,600/MT CPT-port Black Sea. Corn average export price grew to $168/MT FOB Black Sea. GEOGRAPHICALLY 3rd grade soft milling wheat prices grew in all regions: Central (+RUB 200/MT), Black Soil (+RUB 130/MT), Southern (+RUB 380/MT), Volga Valley, Ural (+RUB 175-190/MT) and...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.