While buying interest in Russia's wheat is below offer prices, there is talk in the market that the government there could lift the export tax as early as the end of next week. Milling Wheat The Black Sea market is quiet. Old crop Russian 12.5 percent protein wheat is offered at $212/MT FOB without close buying interest. New crop of the same is offered at $188/MT FOB for small volume with buying interest a few dollars lower. There is interest for significant volume at $180-185/MT FOB from the multinational trading houses. The average production cost for Black Sea region is estimated at around $175-180/MT (FOB basis equivalent). The weather in Russia and Ukraine is favorable for winter wheat development. There is talk in the market that th...
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.