Russian Grain Markets: 29 November-3 December 2021 Russian grain market wheat prices decreased mainly due to downward trends on international wheat markets and growing wheat export duties. Export milling wheat average offer price decreased to $342/MT FOB Black Sea. Average purchase price remained at RUB 17,125/MT CPT-port Black Sea. Feed barley average export price was stable at $298/MT FOB Black Sea; average purchase price increased to RUB 16,100/MT. Feed corn average price decreased to $274/MT FOB Black Sea while average purchase price dropped to RUB 13,600-14,000/MT CPT-port. GEOGRAPHICALLY 3rd grade soft milling wheat prices decreased in the Central, Southern and Black Soil regions (-RUB 15-20/MT), in the Volga Valley (-RUB 65/MT), a...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.