Most grain exporters in Russia have stopped signing new contracts with Turkey, fearing introduction of a ban because of the current conflict between those two countries. Meanwhile, another nation is ready to fill the void in the Turkish market if such action is taken. Russian Grain Markets Harvest Update 108.6 MMT of grain (in bulk weight) were harvested from 44 million hectares (99.1 percent of the target) as of 1 December 2015 compared with 110.3 MMT from 43.9 million hectares as of the same date a year ago. Specifically, 64 MMT of winter and spring wheat were produced from 25.5 million hectares (99.8 percent of the target) as were 18.3 MMT of barley from 8.2 million hectares (99.9 percent of the target) and 12.8 MMT of corn from...
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...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.