Milling Wheat Black Sea harvest pressure seems to have stopped for the moment with prices a bit firmer. Russia's crop may be slightly smaller than the 50-52 MMT previously estimated, and its government intends to purchase 5-7 MMT of wheat for refilling the reserves, which will certainly affect the domestic market.The Egyptian GASC purchased 120,000 MT of Romanian wheat at $252.34/MT and 120,000 MT of Ukrainian wheat at $252.50/MT last week. The spread between the Black Sea and French wheat is narrowing with less than $7.00 premium for the French. This may result in the GASC beginning purchase of French wheat in the coming tenders.The EU allocated 566,000 MT of wheat export licenses last week bringing the total to 1.6 MMT since the star...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.