The milling wheat market in Romania and Bulgaria is unchanged. Producers prefer to sell sunseeds and corn from the ongoing harvest in order to cover their financial needs and retain the wheat for selling at higher prices later in the campaign. Milling Wheat The Black Sea market is firmer due to slower farmer selling. Russian wheat is about $5 higher than the season's lows of two weeks ago. Market operators are not yet discounting the potential reduction in the export tax as there has been no official government announcement. The expected cut could lower it from the current $13 to almost zero. Consequently, exporters could pay higher prices to farmers, increasing the volume of farmer selling in the coming weeks.The EU allocated 502,000 MT...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
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.