Milling Wheat The Black Sea market was mostly unchanged without significant activity. The Russian government has not yet announced the timing and the volume for the intervention tenders. The market believes that the tenders will start in October with a total volume of around 5 MMT. Ukraine has completed the wheat harvest. According to the Agriculture Ministry, the final size of the crop is 22.6 MMT, which is about 1 MMT higher than initial expectations.The EU allocated 546,000 MT of wheat export licenses last week, bringing the total to 5.7 MMT versus 2.9 MMT allocated at the same time last year.The Bulgarian and Romanian wheat market is firm as a result of slower farmer selling. They have sold more than 70 percent of their wheat and a...
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.