Russian Grain Markets: 9-13 November 2020 The increase in Russian domestic wheat prices slowed while barley and corn prices continued to grow. Export milling wheat average price was stable at $257/MT FOB Black Sea. The average purchase price range narrowed to RUB 17,900-18,100/MT. Feed barley average export price decreased to $215/MT FOB Black Sea, while the average purchase price remained at RUB 14,800/MT CPT-port Black Sea. New harvest feed corn average export price grew to $237/MT FOB Black Sea. GEOGRAPHICALLY 3rd grade soft milling wheat prices grew: more in the Central region (+RUB 260/MT) and in Siberia (+RUB 200/MT), less in the Black Soil region (+RUB 80/MT), Southern and Volga Valley (+RUB 15/MT), and Ural (+RUB 25/MT); 4...
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.