Russian Grain Market: 17-24 July 2012 GRAINS AND PRODUCTS Weather Conditions Because of the lasting drought, a state of emergency has been introduced in the Bashkortostan (starting 20 July), Orenburgskaya (starting 25 July) and Cheliabinskaya (starting 18 July) oblasts. Export Updates According to data provided by the National Customs Service, since the beginning of the new marketing year (2012/13), Russia has exported 902,000 MT of grains, including 763,000 MT of wheat, 109,000 MT of barley, 5,000 MT of corn and 25,000 MT of other grain crops. Economic Environment Russian President Vladimir Putin signed a law that authorizes the protocol for Russia's accession to the World Trade Organization (WTO). According to the procedure, in 3...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
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.