Farmers in Romania and Bulgaria refuse to sell wheat at the current export parity, and the only trades reported in the domestic market are purchases from local millers. The two countries have a combined remaining surplus of approximately 3 MMT. Milling Wheat The Black Sea market was weaker following the collapse of the U.S and EU markets. France and Germany became the most competitive wheat origins for all destinations in Africa, the Middle East and Asia. Exports from Russia have been at a record-high level for the first 10 weeks of the campaign. 9 MMT (or about half of the surplus) have already been shipped. The harvest pressure in Russia is now calming down.Egypt's GASC purchased 180,000 MT of French wheat and 55,000 MT of U.S. SRW last...
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.