Milling Wheat The Black Sea market is firmer because of the stronger Russian ruble, which has rallied more than 3 percent versus the USD in one month. While domestic prices in Russia remain stable in RUB expression, the FOB price for Russian 12.5 pro wheat is up about $4-5 since the end of December. The EU exported 339,000 KMT last week, bringing the cumulative total to 11.9 MMT versus 14.3 MMT at the same time last year. This year’s export pace has been very slow due to the firmness of the EUR/USD. Algeria bought 510,000 MT of optional origin wheat last week at around $219/MT CNF. At least half of the volume sold is French wheat, and the balance could be either that or Argentine origin. The market in Romania and Bulgaria is very...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.