Although the Russian government has officially announced that the export tax is effectively lifted, the new crop (July/August) prices for Russian wheat are up $5-10/MT from their lows of two weeks ago. Milling Wheat The Black Sea market is firmer despite the Russian government's official announcement that the export tax is effectively lifted. The new crop (July/August) prices for Russian wheat are up $5-10/MT from their lows of two weeks ago. It seems that the operators who had sold aggressively in anticipation of the tax removal are now trying to cover their short positions. The weather in Russia and Ukraine remains generally favorable for winter wheat development, although the next two weeks are forecast to be warm and dry.The EU alloca...
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.