Wheat Argentina’s wheat harvest is nearly finished with 99 percent of the area harvested to date. The Buenos Aires Grain Exchange increased its production forecast by 200,000 MT to 17.0 MMT for the 2020/21 year due to above-average yields in the southern wheat-growing areas. Yields in that region were between 0.5-1.0 MT/ha above expectations. Following the Argentine government’s (now-reversed) decision to close corn exports through 1 March, exporters aggressively booked wheat sales as a hedge against a possible closure on wheat exports. Exporters registered 2.2 MMT of sales during the first week of January. Local millers are expected to process 6.1-6.3 MMT of wheat in 2021, compared to 6.13 MMT last year. Th...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
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.