Russian Grain Markets: 20–24 November 2023 Russian markets remained quite volatile, however, the Asian area finally stabilized because Kazakhstan seems to have replenished their stocks for the moment. The Siberian market is stable and although prices for 3rd grade milling wheat are still better than in Russia, if you add the freight, logistics, etc. prices are most likely similar to Russian wheat prices and then excessive amounts of wheat will have to be moved elsewhere or processed domestically. Unlike Kazakhstan, Russia has a record wheat crop for the second year in a row. Beginning 1 December, Russia may impose a durum wheat export ban for six months. Even though the percentage of durum wheat produced is miniscule, this may...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
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.