Milling Wheat The cash market in the Black Sea remained about unchanged despite the U.S. and EU futures markets’ sharp rally. Crop conditions in Russia and Ukraine are generally considered as good, although there are dry regions in both countries where the wheat is starting to suffer from a lack of moisture. The weather in coming weeks will be crucial to the final yield and quality. USDA’s estimate of 72 MMT for the Russian crop was considered very conservative on the day of the WASDE report’s release. Today, however, that number seems much closer to the trade estimate than it did two weeks ago. The EU reported weekly exports of 219,000 MT, bringing the total to 17.7 MMT versus 22.3 MMT at the same date last year. The EU...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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.