After three weeks of incessant rains, the yield and quality of the wheat in the western regions of Bulgaria and Romania have been affected significantly. Forecasts for both countries' crops have been downwardly revised as a result. Milling Wheat The Black Sea market is slightly firmer due to increased buying interest following the wheat quality problems in the EU. Russia's wheat crop is now estimated at 60 MMT, compared with 52 MMT last year. The Ukrainian crop is estimated at 21.5 MMT, which is unchanged from last year. However, the percentage of feed wheat is considerably larger.The EU allocated 540,000 MT of wheat export licenses last week, bringing the total to 1.3 MMT versus 1.6 MMT at the same time last year.Egypt's GASC purchased 1...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.