Milling Wheat The Black Sea market feels a little heavy as there are not many buyers willing to pay current prices. The market went up too high and too quickly. A month ago, the 11.5 percent protein Black Sea wheat was offered close to $35/MT lower than today. At the same time, the French wheat was about $10/MT lower than today. As a result, French wheat has become more competitive than Black Sea. The market was not expecting that to happen so early in the campaign as Ukraine and Russia still have a combined remaining surplus on paper of about 10-11 MMT.Algeria bought 650,000 MT of French wheat last Friday at $295-$297.50/MT. These prices were considered to be very aggressive as the replacement calculation was about $5/MT higher.Egypt'...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
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.