At the current export pace of about 3 MMT per month, Russia will dominate the wheat market until next spring. However, two variables could prevent the Russian wheat price from rallying much above the current level. Milling Wheat The Black Sea market is under pressure as new demand for nearby positions (August/September shipment) is difficult to find. The average estimate for the Russian crop is 60 MMT (approximately 2 MMT more than last year). The export pace from Russia's ports is slower than a year ago due to smaller demand from Turkey, Egypt and other importing countries in North Africa and the Middle East where the local crops were higher than last year. The Russian 12.5 protein wheat is by far the cheapest versus other origins...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.