News that Russia will be applying export duties, quotas, or potentially a combination of both to its wheat market and potentially other food-related products sent CBOT wheat sharply higher on Friday. The Russian government is working to fight increasingly severe food inflation by slowing exports of wheat, soyoil, and sunflower seeds/products. Global vegoil prices are continuing to soar higher on the news that Russia could drastically slow/stop the export of sunflower oil. Notably, any export quotas will have to be published in Russia’s Federal Register for 30 days before taking effect. Consequently, export taxes are the more immediate threat to the markets. The Russian news sent CBOT and KC wheat sharply higher, at times postin...
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...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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Accountability and a comprehensive approach to export programming
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