The EU has now allocated 777,000 MT of the available 950,000 MT duty-free import licenses for Ukrainian wheat. Once the duty-free quota has been completed, possibly this week, a 12 euro levy will be imposed on wheat of that origin under the tariff-rate quota (TRQ). Milling Wheat The Black Sea market was not very active last week, and prices remained about unchanged. The weather in Ukraine and southern Russia remains generally favorable for wheat development. Some regions in Russia such as Rostov and Volgograd have suffered from last fall's drought, and the yield potential there is limited. Most operators estimated the crop in Russia at 56-58 MMT versus 58 MMT a year ago. The weather during the next two weeks will be important for 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.