Milling Wheat The Black Sea market is on fire. The reported harvest yields are confirming expectations that they would be 15-20 percent lower than last year. Southern Russia received excessive rains last week in the middle of the harvest, which badly affected the wheat quality as there is a high percentage of sprouted grains in a significant part of the crop still in the field. Offers in the export market are difficult to find, and they are priced higher every day. The Egyptian GASC bought 420,000 MT of Russian, Ukrainian and Romanian wheat last week, paying about $236/MT CNF or $16/MT more than it did two weeks earlier. It booked seven of the tender’s nine offers. Algeria is in the market for optional origin wheat for October deli...
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...
Dry bulk markets were volatile but ultimately steady this week with notable differences in rate developments across vessel classes. The Capesize sector, which led the recent rally in freight rates with its dramatic surge, pulled back slightly amid more cautious chartering activity, partic...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.