Assuming the Ukrainian feed grains surplus is 18 MMT this year, 10 MMT remain for the period of January-September, which is a record high for this point in time. Milling Wheat The Black Sea market is under pressure in sympathy with EU and U.S. wheat. It is also very quiet as Russia and Ukraine are just returning from the long holidays.The EU allocated 719,000 MT of wheat export licenses last week, bringing the total to 15.1 MMT versus 10.1 MMT allocated at the same time last year.The GASC purchased 55,000 MT of U.S. SRW last week at $303/MT CNF. It bought 535,000 MT of French, Romanian, Russian and Ukrainian wheat for between $316-321/MT CNF the previous week.The weather in Romania and Bulgaria is unusually warm and dry, and precipitation...
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.