Russian Grain Markets: 22–26 April 2024 Russian analysts are beginning to worry that this season’s grain production in Russia may drop from almost 145 MMT in 2023 to 135 MMT because of the drought in Southern Federal District – the wheat belt of Russia. Russian Ministry of Agriculture forecasts wheat production down to 88 MMT versus 90 MMT, barley production is now 18 MMT versus 19.5 MMT, and corn is 15 MMT versus 18.8 MMT. The 2023 crop produced 93 MMT of wheat, barley – 21.1 MMT, and corn – 16.6 MMT. Earlier, the industry was expecting rains, and the forecast was still around 140 MMT but now the rains are scarce and if the drought continues it may have a severe impact in Russia’s south. All the statis...
The corn and soy complex closed higher, with the wheat market mixed, as winter wheat closed up but spring wheat and livestock ended lower. Part of the strength for corn and soybeans may have been a weather premium, as crop planting has started out fast but warm weather has been slow to develop...
Reflect for a moment on what you eat. There is a lot of advice out there in the ether about what you should eat, but really, what do you currently eat and how much? The good people at the USDA have some data for you, to help you answer that question. USDA says that we eat quite a bit of meat. L...
WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporates the energy market’s expanding influence on the oilseed sector and the structural changes in global biofuel demand. This report is i...
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.