Wheat Market Brazilian millers were in the market this week to buy Argentine wheat as the Free Aside Shipment (FAS) market is heating up. Exporters paid $220/MT FAS this week at Upriver ports and once exports taxes are added of about $66/MT, the replacement cost is about $300-305/MT. This is the main reason why exporters are not offering openly at the market. The last confirmed trade was two weeks ago at $273/MT and there are rumors of another trade at $278/MT. Brazilian millers are currently willing to pay $290-295/MT.Despite this heat up in prices, Argentina is the most competitive origin for Brazil. The impact of the freight is low and the tax preference put Argentina in a position where it is almost impossible to find competition...
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
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.