Milling Wheat The Black Sea market had a weaker tone last week with the new crop harvest approaching and as export commitments for the first quarter of the new campaign are lower than a year ago at this time. The buyers/consumers in the major destinations are confused due to the conflicting reports coming out of Russia and Ukraine, which indicate crops there are estimated at 65-75 MMT and 23-26 MMT, respectively. The two extremes of those ranges would have a very different impact on wheat prices. The weather in southern Russia and eastern Ukraine remains dry, and the harvest is starting in some locations about three weeks earlier than normal. The market will closely monitor the first reports on yields and quality. The EU weekly exports we...
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
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.