Wheat Last week’s rains slowed the wheat harvest, which advanced 9 percent last week. Argentina’s wheat crop is 40 percent harvested with yields averaging 1.68 MT/ha. Yields will start to increase as the harvest moves south and into areas less affected by drought. The crop is still estimated between 16.7-16.8 MMT. The local market has been slowly trading sideways between $205-210/MT ($245-250/MT FOB equivalent) with volumes mostly focused on spot positions. Farmers have sold 6.7 MMT so far, of which exporters have purchased 6 MMT. That is a sizeable volume for this point in the crop year given that the total export program is forecast at 10 MMT. The vessel lineup is starting to increase and there are vessels waiting to load 1...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
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.