World Perspectives
feed-grains soy-oilseeds wheat

Common Thread: CME’s Noble Experiment

Trading in the CME's new Black Sea wheat futures contract began yesterday, 6 June. With this contract, CME aims to attract hedging volume from Black Sea regional exporters and users of wheat from the region. If the contract can demonstrate commercial utility, the hope is that it will attract speculative volume as well plus volume from spreaders playing Black Sea wheat futures against the CME's futures contract for SRW or perhaps Paris wheat futures. The first day's trading volume was not very auspicious. Reportedly, only a few contracts were traded, apparently not enough to be included in CME's report of daily trading volume and open interest.Trading is entirely electronic via CME's Globex platform. Trading hours are from 1:00 a.m. to 1:1...

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feed-grains soy-oilseeds wheat

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Over the course of 2025, the average tariff rate on U.S. imports increased from 2.6 percent at the beginning of the year to 13 percent by year-end. It then spiked in April and May, when tariffs on Chinese goods were raised by 125 percentage points, before being reversed by 115 percentage points...

feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

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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.

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