There are offers of Bulgarian, Romanian, Ukrainian and Russian wheat for April/May shipment at $207-216/MT FOB without close buying interests. There are also different opinions in the market regarding the state of Russia's crop and its size. Milling Wheat The Black Sea market remains very quiet in the absence of demand. There are offers of Bulgarian, Romanian, Ukrainian and Russian wheat for April/May shipment at $207-216/MT FOB without close buying interests. The weather in Russia and Ukraine has improved with rains in the forecast for the coming days. The average estimate for the Russian wheat crop is around 53-54 MMT compared with 59 MMT last year. Ukraine's crop is estimated at 20 MMT against last year's 23 MMT. Absent major weather p...
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
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.