The Algerian OAIC bought 400,000 MT of EU wheat, paying around $198/MT CNF. Algeria is traditionally a captive market for French origin, but the French exporters are reluctant to make additional commitments due to one particular concern. Milling Wheat The Black Sea market seems to have reached a bottom, at least temporarily. After a month of constantly declining prices, it found some support last week and traded slightly higher than the previous week. Egypt’s purchase (see below) also provided some strength as did the firmer Russian ruble versus the USD.Following the excessive rains in France during June, many analysts downgraded the crop there to around 36 MMT against 41 MMT last year. Some are even discussing 34 MMT, which seems too ext...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.