World Perspectives
wheat softs

Fungibility for Food Security

There is speculation that rice prices will increase due a smaller crop in India, the world’s largest exporter, and the impacts of El Niño. That is not currently reflected in futures prices, which have fallen 18 percent from their high at the beginning of the year. India’s rice stocks have declined 8.5 percent from 2022/23 levels, but the government has increased the minimum purchase price and that will incentivize more production. At the same time, global wheat ending stocks are rising, including a 47 percent increase in India’s wheat carryover.  Although rice may carry a preference in Asia, wheat demand has been growing much faster than rice demand. It has nutritional advantages over traditional white rice su...

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Market Commentary: Bulls Gain Upper Hand for Now

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Summary of Futures

Jul 25 Corn closed at $4.3875/bushel, up $0.0025 from yesterday's close.  Jul 25 Wheat closed at $5.4325/bushel, up $0.0725 from yesterday's close.  Jul 25 Soybeans closed at $10.45/bushel, up $0.0425 from yesterday's close.  Jul 25 Soymeal closed at $297.1/short ton, up $2.6 fro...

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Black Sea Regional Analysis

Russian Grain Markets: 26 – 30 May 2025 The grain market was more similar to an end of June market rather than end of May. A new season seems to have started a month earlier. Wheat and barley prices in the south near the ports plummeted to new level. Usually transition from old crop to ne...

feed-grains soy-oilseeds wheat

Market Commentary: Bulls Gain Upper Hand for Now

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feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.3875/bushel, up $0.0025 from yesterday's close.  Jul 25 Wheat closed at $5.4325/bushel, up $0.0725 from yesterday's close.  Jul 25 Soybeans closed at $10.45/bushel, up $0.0425 from yesterday's close.  Jul 25 Soymeal closed at $297.1/short ton, up $2.6 fro...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 26 – 30 May 2025 The grain market was more similar to an end of June market rather than end of May. A new season seems to have started a month earlier. Wheat and barley prices in the south near the ports plummeted to new level. Usually transition from old crop to ne...

feed-grains soy-oilseeds wheat

Market Commentary: Role Reversals on Turnaround Tuesday

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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