Milling Wheat The Black Sea market remains supported in the absence of farmers’ selling pressure. The domestic market in Russia was about unchanged last week, and the ruble was stable against the USD. Russia has already exported 27 MMT. Meanwhile, the target of 35 MMT, which looked very optimistic at the start of the campaign, is now being revised by most analysts to 36-37 MMT. Even if the Russian wheat is starting to lose competitiveness against French and German origins at current prices, a target of 37 MMT seems rather realistic as it implies average monthly exports of 2.5 MMT until the end of the campaign versus the average 3.5 MMT achieved during the past three months. The new crop in Russia and Ukraine is developing under norma...
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...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.