Russian Grain Markets: 29 October-2 November 2018 Grain prices moved in different directions. Milling wheat export prices decreased $4/MT to an average $228/MT FOB Black Sea, and purchase prices at seaports fell to $195-200/MT CPT-Black Sea port. The average feed barley export price remained at $237/MT FOB, and the average purchase price was $204/MT CPT-Black Sea port. The average corn export price was also stable at $183/MT FOB. GEOGRAPHICALLY 3rd grade soft milling wheat prices grew in Central (+$2.00/MT), Ural (+$2.40/MT) and Siberia (+$1.00/MT), but they remained stable in Black Soil while decreasing in the South and Volga Valley (-$0.20-0.60/MT). 4th grade soft milling wheat prices rose in Central (+$2.80/MT), Siberia (+$1...
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.