The EU allocated 273,000 MT of wheat export licenses last week, bringing the total to 28 MMT. Carryout stocks wil be significantly different this year, which is probably the reason behind the recent change in MATIF May futures. Milling Wheat The weather in Russia and Ukraine is generally favorable for winter wheat development. The Russian crop is now estimated to be over 58 MMT by most analysts (about unchanged from last year), which reflects an exportable surplus above 25 MMT. The export tax has still not been officially removed. There are rumors that the government might instead replace the current minimum export tax of 35 euros with a significantly lower one.The EU allocated 273,000 MT of wheat export licenses last week, bringing the t...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.