With farmers in Bulgaria and Romania selling part of their wheat stocks, Bulgarian 11.5 protein milling wheat is trading at a slight discount to the Ukrainian for destinations in Africa and the Middle East, while the Romanian 12 percent protein is trading at around $195/MT FOB. Milling Wheat The Black Sea market remained about unchanged last week. The weather has improved in Eastern Europe for winter wheat development with a good amount of rain falling over Ukraine.Tunisia bought 125,000 MT of 11.5 protein optional origin wheat, paying $203.64-204.95/MT for December-February shipment. The most likely origins at today’s prices are France and Bulgaria.The EU allocated 635,000 MT of wheat export licenses last week, bringing the accumulated 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.