Milling Wheat The market in the Black Sea is quiet. Talks about a possible export tax from Russia are resurfacing again, but the government has not announced anything concrete. Ukrainian farmers are selling at a very slow pace. The market is anticipating significant wheat carryover stocks in Ukraine this year. Because farmers are anticipating a shortage in the next campaign (a result of the severe crop damage caused by the extreme cold earlier this year), they preferred not to sell their wheat stocks.The Egyptian GASC bought 60,000 MT of U.S. SRW at $259 FOB in a tender this week. The U.S. wheat is about $15 cheaper than the French, Argentine and Black Sea origins on a CNF basis.Iran purchased 300,000 MT of Russian and Kazakh wheat.The E...
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...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.