Regional News ProZerno forecasts Russia’s 2024 total grain production will hit 135-136 MMT, down from 144.9 MMT in 2023. Wheat production is forecast to fall from 92.8 to 88 MMT this year, with barley production down from 21.1 to 18 MMT. Russia’s corn production should fall from 16.6 to 15 MMT. Turkey announced a tender for the import of 100 KMT of hard wheat with delivery from 20 May – 12 June 2024. Egypt purchased 750 KMT of wheat from its domestic market, which equates to 21 percent of its 3.5 MMT planned purchases for the season. Milling Wheat Wheat prices rallied sharply last week as weather and crop conditions deteriorated in major producing regions. Additionally, further disruption...
Key Takeaways: Dry bulk markets are mixed this week with the Capesize sector seeing a sharp correction from its recent rally. Smaller vessel classes are steady/firmer but the Chinese Golden Week Holiday is pressuring near-term rates. Dry bulk freight did not receive the bullish boost it...
Markets are getting a quarter-end reality check as September comes to a close. Growth, inflation and interest rates remain central to the macro outlook, while tight diesel supplies keep pressure on the cost of moving goods. States are stepping in with relief, but policy changes alone cannot reb...
Key Takeaways: Russia recently said it would convert existing export terminals in the Baltic and Arctic Seas to handle grain as the Black and Azov Seas remain closed to maritime trade. Futures markets reacted negatively to this news, but does the conversion matter to short-term and long-...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.