Russian Grain Markets: 28 Novermber – 2 December 2022 With the UN humanitarian corridor back in place, Russia is reportedly procrastinating with inspections in the Black Sea thus creating a line of international vessels in the Bosporus straight. This is causing Ukraine and the world problems in food delivery and making it difficult for Ukraine to export its agricultural commodities surplus. It also gives Russia a preference in winning wheat tenders globally as Russian vessels do not have to be inspected and can leave Black Sea ports faster. Although Russia has a record grain crop and a good oilseeds crop, thanks to good weather conditions, some Russian farmers are complaining about margins and increased input costs. Due to imp...
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.