Milling Wheat The Black Sea market remains supported in the absence of farmers’ selling pressure. The domestic market in Russia was about unchanged last week, and the ruble was stable against the USD. Russia has already exported 27 MMT. Meanwhile, the target of 35 MMT, which looked very optimistic at the start of the campaign, is now being revised by most analysts to 36-37 MMT. Even if the Russian wheat is starting to lose competitiveness against French and German origins at current prices, a target of 37 MMT seems rather realistic as it implies average monthly exports of 2.5 MMT until the end of the campaign versus the average 3.5 MMT achieved during the past three months. The new crop in Russia and Ukraine is developing under norma...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
We have described the long-term investment climate in crop and livestock production, using data primarily from the Bureau of Economic Analysis (BEA). The data provided background on the current investment climate and outlook for agricultural capital formation. Our conclusion was that investment...
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.