While buying interest in Russia's wheat is below offer prices, there is talk in the market that the government there could lift the export tax as early as the end of next week. Milling Wheat The Black Sea market is quiet. Old crop Russian 12.5 percent protein wheat is offered at $212/MT FOB without close buying interest. New crop of the same is offered at $188/MT FOB for small volume with buying interest a few dollars lower. There is interest for significant volume at $180-185/MT FOB from the multinational trading houses. The average production cost for Black Sea region is estimated at around $175-180/MT (FOB basis equivalent). The weather in Russia and Ukraine is favorable for winter wheat development. There is talk in the market that th...
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
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.