Russian Grain Markets: 13–17 November 2023 The Russian market remained quite volatile with European Russia bearish and the Asian region bullish thanks to solid demand from Kazakhstan. However, the gap between the European and Asian parts of the country is getting smaller and smaller as the huge crop puts pressure on the market, and a stronger RUB keeps domestic trading low. At the same time, export duties have become smaller as they are being calculated and charged in RUB and are not directly linked to the dollar. Kazakh demand will come to an end probably by the end of the year; only the highest quality milling wheat is in demand while low protein is no longer wanted. Farmers seem to be in no hurry to sell their crop for cheap...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.