GOOD MORNING, The markets are mixed this morning as wheat is sharply higher against lower prices elsewhere on the board. Wheat prices are higher with Russian announcing they would strictly limit wheat exports in Q2 2020, with exports possibly stopping as soon as mid-May. Adding some concerns to supply, Russia's IKAR lowered wheat production from 77.2 mmt from 79.2 mmt due to dry weather conditions. IN lieu of this, Russia's supply could be tighter, restricting them from participating in tenders which makes the US more competitive. Crude oil prices are down $7.00 to $11.04/barrel, the lowest level since 1999, which is impacting the energy related markets corn and soyoil, both of which are lower.&nb...
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...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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