Regional News ProZerno forecasts Russia’s 2024 total grain production will hit 135-136 MMT, down from 144.9 MMT in 2023. Wheat production is forecast to fall from 92.8 to 88 MMT this year, with barley production down from 21.1 to 18 MMT. Russia’s corn production should fall from 16.6 to 15 MMT. Turkey announced a tender for the import of 100 KMT of hard wheat with delivery from 20 May – 12 June 2024. Egypt purchased 750 KMT of wheat from its domestic market, which equates to 21 percent of its 3.5 MMT planned purchases for the season. Milling Wheat Wheat prices rallied sharply last week as weather and crop conditions deteriorated in major producing regions. Additionally, further disruption...
What You Need to Know Today: The June jobs report showed nonfarm payrolls increased by 57k jobs, less than the 115k jobs expected by economists surveyed by Dow Jones. The labor force participation rate dropped by 0.3 percent to 61.5 percent, the lowest since March 2021, and the lowest in 50 ye...
As Cuba's economic crisis has deepened, discussions about the country's eventual economic and political transition have reemerged. One question that inevitably follows is what opportunities might emerge for U.S. agricultural exports. So, here’s a brief review of those opportunities, but n...
Key Takeaways Traffic through the Strait of Hormuz is increasing steadily, despite a precarious political situation. The increased flow of vessels through the SOH is pressuring tanker rates, though total volumes remain well below pre-war levels. The big issue in the Strait of Hormu...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.