Milling Wheat Global wheat prices were higher last week as concerns about the 2024/25 Russian supply and export program increase as well as concerns about the 2025/26 Black Sea production outlook. Russian exports are down sharply over the past few weeks and are projected to total just 2.2 MMT in February as tightening supplies, rising prices, and the export quota exert their impacts. Additionally, the weather forecast for the Black Sea includes very cold temperatures this week with spotty snow cover that could increase winter kill risks. Further threats to the Russian 2025 crop will cause outsized reactions in global markets. EU prices were weaker last week as exports continue to struggle. EU YTD wheat exports for 2024/25 total...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
Can we really expect a bushel of corn to carry an environmental passport throughout the entire food system? One that reliably documents its carbon footprint, biodiversity impacts, water use, soil carbon, and other environmental attributes all the way from the farm field to the consumer? This is...
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.