The EU allocated 991,000 MT of wheat export licenses last week, a decline from 1.6 MMT during the same week a year ago that was largely due to the Russian export ban. This brings the current total allocation to 19.4 MMT versus 22.9 MMT at the same time last year. Milling Wheat The domestic market in Russia is lower but not to the same extent as the ruble’s rally during the last two months (gaining about 15 percent). Origination at levels around $178 FOB or below is becoming increasingly more difficult. Meanwhile, weather conditions in Ukraine and southern Russia are favorable for winter wheat development. The winter is almost over, and there is no risk of frost in the 10-day forecast.The EU allocated 991,000 MT of wheat export licenses la...
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
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.