Milling Wheat The Black Sea market is steady without much pressure from farmers and exporters. Russia is expected to export 16 MMT of wheat in 2013/14 (5 MMT more than in 2012/13). However, Russian wheat is not under the same pressure as it was at the same time last year. The Russian/Ukrainian 11.5 percent protein wheat is currently discounted $5 against French wheat on a CNF Egypt basis, while at the same time last year the discount was around $25. Last year, the Russian exporters were in a rush to ship the maximum possible volume as early as possible as there was a significant risk that the government might implement some sort of export restrictions because of the adverse weather in the summer and early fall. There are no such fears...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.