Black Sea wheat prices were lower last week on farmer selling and lack of export demand. Soyoil is now priced at a discount to sunflower oil, ending an extended period of... Milling Wheat The Black Sea market was weaker last week due to increased farmer selling and lack of fresh export demand in the near term. Russian 12.5 protein FOB prices were $2/MT weaker for April/May shipment, despite the firmness of the ruble as domestic prices eroded further. Domestic prices have fallen between 500-900 rubles ($8 -$15) in one month. Many analysts still estimate Russia will export 28 MMT this year, roughly 3 MMT more than last year. In order to achieve such a program, Russia would need to export an average of 2.5 MMT per month until the end of the...
What You Need to Know Today: The U.S. conducted “self-defense strikes” in Iran and said the two sides are “close” to negotiating a ceasefire. “Close” is a relative term, however, and even if 95 percent of the terms are agreed to, the remaining 5 percent is l...
As we reported on 19 May, China has also committed to the resumption of U.S. poultry imports from states without confirmed HPAI detections. USDA’s Animal and Plant Health Inspection Service (APHIS) has updated its China export restrictions webpage to reflect that China has lifted HPAI-rel...
Key Takeaways: Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is e...
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.