Russian Grain Markets: 18–22 December 2023 As of mid-December, the Russian Statistics Agency reports 142.6 MMT of grains harvested in standard weight excluding occupied territories in Donetsk, Luhansk, Zaporizhzhia, and Kherson. The wheat crop alone accounted for 92.8 MMT which is the second-best crop in Russia’s history. Corn production is forecast at 14.4 MMT, however, chances are it could be as large as 17 MMT. That would make a total grain crop in Russia of 145 MMT. The estimated grain crop in occupied territories (please see above) is 4.8 MMT, which means that this grain crop will continue putting pressure on the market, especially if exports are delayed. The only other factors which may help prices grow are a weaker RUB...
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.