Russian Grain Markets: 24-28 May 2021 The Russian domestic grain market reacted to the introduction of the new “floating” export duty effective today. The duty is $28.1/MT for wheat (calculated on the basis of the price $240.2/MT), $39.6 for barley ($241.7/MT), and $52.2 for corn ($259.7/MT). Taking into account the previous, “fixed” duty, duties were €50/MT for wheat, €10/MT for barley and €25/MT for corn. As a result, wheat export was mainly postponed until today, while corn and barley export was very active before the date. Meanwhile, export milling wheat average price decreased to $260/MT FOB Black Sea. The average purchase price decreased to RUB 15,400/MT CPT-port Black Sea. Feed bar...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.