The EU allocated 872,000 MT of wheat export licenses last week, bringing the total to 18.2 MMT since the start of the campaign versus 11.7 MMT a year ago. Milling Wheat The Black Sea market saw little change with very few reported trades. Lebanon bought 25,000 MT of Russian wheat at $309.67/MT CNF. Iran purchased a combination of Russian and EU wheat for a total of 500,000 MT.The EU allocated 872,000 MT of wheat export licenses last week, bringing the total to 18.2 MMT since the start of the campaign versus 11.7 MMT allocated at the same time last year. Some European traders estimate that EU exports could exceed 25 MMT this year as the imports of corn will be record-large at 13 MMT compared with 11.4 MMT last year.The Bulgarian and Romani...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.