The feed wheat price rally (approximately $30 in one month) is motivating consumers in the EU and the major Mediterranean destinations to increase their corn coverage for the next six-nine months. Milling Wheat The Black Sea market is firmer. The main reasons for the rally are the market nervousness about the critical weather conditions in Russia and the increasing likelihood that the government there will implement export restrictions starting early next year.The EU allocated 729,000 MT of wheat export licenses last week, bringing the total to 12.8 MMT versus 11.8 MMT at the same time last year.Egypt's GASC bought 120,000 MT of Romanian wheat at $260.17/MT and 55,000 MT of Ukrainian at $257.50/MT last week. It didn't purchase any French...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.