Milling wheat prices started decreasing at the Ukrainian Black Sea (UBS) ports, mainly due to the exhaustion of export potential and the resultant lower demand from traders. Another reason is that new harvest wheat will enter the market in about one month, so those traders and processors with sufficient stocks prefer to wait. Russian Grain Markets Market Trends: 16-20 May 2016 Grain prices, especially wheat and corn, continued to increase in RUB expression (but decrease in USD expression because of the weaker ruble) due to declining stock offers from the 2015 harvest. GEOGRAPHICALLY 3rd grade soft milling wheat prices grew in the South (+$3.20/MT), Central and Black Soil (+$2-2.20/MT), Volga Valley and Ural (+$0.70-0.80/MT), and Siberi...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.