The EU reported 231,000 MT of wheat were exported last week and once again corrected the previous week’s total. Now Turkey has been actively buying high protein wheat from several sources other than those closest to it geographically because of a certain development. Milling Wheat The Black Sea market was slightly weaker last week as Russia is trying to find alternative destinations to Turkey for its wheat. The old crop/new crop inverse for its 12.5 pro wheat remains about $15 as the August shipment can be purchased at $172/MT FOB. The weather in southern Russia and Ukraine has been drier than normal during the past few weeks, but the forecast for the next two weeks is calling for normal seasonal rains.The EU reported 231,000 MT of wheat...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.