The EU allocated 780,000 MT of wheat export licenses last week, bringing the total to 12.5 MMT versus 8.5 MMT allocated at the same time last year. Milling Wheat The Black Sea market is firmer despite slow demand. Ukrainian and Russian farmers still have a large volume of wheat to sell before June, but they are not in a hurry. We may see some market pressure in March/April if the farmers' selling pace remains slow in the coming months and the winter doesn't cause any significant damage to the winter wheat.The Egyptian GASC purchased 120,000 MT of French wheat at $319.46/MT and 180,000 MT of Romanian wheat at $310.90-312.38/MT. There were no offers for Russian, Ukrainian or U.S. wheat in the tender.The EU allocated 780,000 MT of wheat expo...
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...
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.