Milling Wheat The Black Sea market was firmer last week as offers for Russian 12.5 pro were difficult to find below $215/MT FOB. The Russia-U.S. tensions have pressured the ruble, which fell about 10 percent in one week. Consequently, domestic prices moved up sharply (in RUB expression), rising about 500 rubles ($8.00) in southern Russia (close to the ports) last week. Despite the higher prices, farmers’ selling remained slow as they certainly prefer to keep their wheat as a protection in case the ruble collapses. The new crop is developing under generally favorable conditions in Eastern Europe. The average trade estimates are around 80 MMT for the Russian crop and 26 MMT for the Ukrainian crop versus 84 MMT and 25 MMT, respectively...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
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.