The old crop feed wheat and corn market in the Black Sea is much firmer because of slow farmer selling and short covering demand. This has impacted the inverse between old and new crop prices, which had been almost flat 10 days ago. Milling Wheat The Black Sea market is firmer due to slow farmer selling at the end of the campaign. Weather conditions are favorable for winter wheat development in Russia and Ukraine, and local analysts are revising their crop estimates upward.The EU allocated 712,000 MT of wheat export licenses last week, bringing the total to 24.5 MMT versus 27.1 MMT at the same time last year.The harvest has started in Egypt, and the GASC has begun buying wheat from farmers at prices much above the world market. Because it...
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.