Russian Grain Markets: 10-14 January 2022 The Russian domestic market prices changed insignificantly and mainly in southern regions that are more sensitive to international price changes and dollar rate. As for export prices, a key internal factor that influenced them is the decrease of export duties. Export milling wheat average offer price decreased to $330/MT FOB Black Sea. Average purchase price grew to RUB 16,500/MT CPT-port Black Sea. Feed barley average export price was stable at $288/MT FOB Black Sea; average purchase price grew to RUB 14,750/MT. Feed corn average price grew to $276/MT FOB Black Sea while average purchase prices were stable within RUB 14,000-14,500/MT CPT-port. GEOGRAPHICALLY 3rd grade soft milling wheat prices g...
Macro: Relief Meets Reality July’s CPI report matched expectations. Headline inflation eased to 3.4 percent year over year, while core inflation declined to 2.5 percent. On a monthly basis, headline CPI rose 0.1 percent and core increased 0.2 percent. Equities and the U.S. dollar traded h...
One of the curious developments from the August WASDE was USDA’s handling of the European, Russian, and Ukrainian corn and wheat balance sheets. The EU has battled significant drought and heat this year, while Russia and Ukraine are increasingly locked in a battle for control over the Bla...
Key Takeaways: Corn yield came in below expectations at 180.7 bushels per acre, validating WPI’s view that last year’s exceptional yield may have anchored analyst estimates higher. Despite slightly higher production for corn, stronger export projections tightened the balance sheet,...
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.