The demand for feed wheat at current prices is difficult to find as corn is about $10-20 cheaper. In Spain, the spread between Brazilian corn and Bulgarian feed wheat is even wider. Milling Wheat The Black Sea market followed the trend of the U.S. futures’ markets to a limited extent. Ukrainian 11.5 pro and Russian 12.5 were up about $3 for the week. The value-added tax (VAT) problem in Russia is still not resolved, and the domestic market is slightly firmer in RUB expression despite the approaching start of harvest. While the Black Sea wheat is now by far the cheapest origin, local farmers are still reluctant to sell at current prices.The EU exported 123,000 MT last week, bringing the total to 23.3 MMT. The campaign’s final n...
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
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.