Russian Grain Markets: 26–30 June 2023 Russian Grain Union is estimating the Russian grain crop at 130-140 MMT and export potential at 55 MMT. The Union is not expecting a record crop again and is estimating a 10 percent decline. A pessimistic scenario discussed by some domestic analysts shows 120 MMT of grains and 78 MMT of wheat, others predict 87 MMT of wheat. Wheat During 2022, Russia produced a record 157.7 MMT of grains of which 104.2 MMT was wheat. Preliminary estimates of 2022/23 grain exports totaled 61.8 MMT. Ninety-three percent of winter wheat is reported in good condition, however in certain areas winter wheat was replanted. Spring wheat planting showed 13.8 Mha which is very close to a 12-year record and is up...
Key Market Insights Macros: Inflation isn’t cooling — it’s moving higher again. March PCE inflation (Personal Consumption Expenditures index — the Fed’s preferred measure of inflation) rose 0.7 percent month-over-month, pushing the annual rate to 3.5 percent, the h...
An amendment to the U.S. House farm bill, aiming to remove the Save Our Bacon Act language in Section 12006 that would have stripped language to prohibit California’s Proposition 12, Massachusetts’ Question 3, and up to 500 state agricultural laws across the country, was blocked by...
What Matters Today... Fed holds rates steady as inflation uncertainty tied to the Iran conflict pressures equities and supports broader commodity risk premia Biofuel demand accelerating globally, with U.S. imports of used cooking oil and strong soyoil demand reinforcing upside across the soy c...
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.