The wheat market in Romania and Bulgaria is extremely quiet. No trades have been reported in recent weeks except for one Moroccan tender as farmers are unwilling to sell at current prices. Having started the winter wheat planting, tthey are also very concerned about another factor. Milling Wheat The Black Sea market is stable to slightly firmer. Egypt has finally ended its zero ergot tolerance standard and resumed buying Russian wheat. Meanwhile, India has lowered its import tax on wheat from 25 percent to 10 percent, and the trade consensus is that a minimum of 2 MMT of Russian/Ukrainian stocks will be sold to that country.The Russian crop is estimated at 70-72 MMT versus 61 MMT last year, but there are significant quality concerns. The...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.