Milling Wheat The Black Sea market was slightly weaker last week in sympathy with the futures markets in Chicago and Paris. Meanwhile, the domestic market prices in Russia were $2-6/MT lower in Volga, Central and the South but $1-3/MT higher in Siberia and Ural. Russia has exported about 18 MMT so far from a surplus that is estimated at 28-33 MMT. Winter wheat planting has been completed in Romania and Bulgaria. Approximately 50 percent of the region is suffering from a severe drought that has persisted over the past two months. The wheat still has not emerged in a large portion of the area, and the crop’s condition is critical. The trade will closely monitor the weather development in the coming weeks, and the outlook is calling fo...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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.