The quality of French milling wheat is higher than normal with average protein around 12 percent, but exports are lagging quite a bit this year because of certain factors. Milling Wheat The Black Sea market is under pressure due to the lack of buying interest, and it is still digesting the new Russian and Ukrainian crop estimates. Last week’s USDA forecast of 77.5 MMT for Russia (up 5 MMT from July) was followed by other analysts’ estimates that were close or even above that number. However, the USDA estimate of 26.5 MMT for Ukraine is considered about 2 MMT too high by most trading houses. On paper, the total Russian wheat supply at the start of the current campaign is up about 10 MMT versus last year, which is due to the increase...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.