The consultancy Sovecon this week increased its estimate of the Russian wheat crop to 94.7 MMT. That is 7.6 percent more than USDA's guess at 88 MMT and if realized, it would be nearly 20 MMT larger than Russia’s 2021/22 wheat crop. An astounding level of increase. By contrast, the consultancy Agritel expects the French wheat crop to fall by 5.6 percent this year to 33.44 MMT. FranceAgriMer’s latest estimate calls for a crop of 32.9 MMT due to the adverse impacts of frost, drought and very high temperatures. Agritel also has a higher export estimate at 10.95 MMT. The company’s survey of industry indicates larger wheat exports due to less competition from Ukraine. The question is whether Russia will present increased...
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and stocks are trading higher. Crude may be the biggest piece of today’s reversal. Saudi Arabia is offering additional crude to Asian buyer...
What You Need to Know Today: As was widely expected, the Federal Reserve raised interest rates by 25 basis points to a target range of 3.75–4.00 percent, its first rate increase since 2023, as policymakers respond to persistent inflation pressures. The Fed also signaled that additi...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.