Assuming the latest EU soft wheat crop forecasts are correct and also a 2 MMT increase in domestic feed wheat consumption, a minimum of 30 MMT will need to be exported this year. The current prices and pace of exports, however, could make that difficult to achieve. Milling Wheat The Black Sea market remained under pressure last week as demand is very slow. The forward positions (November/December/January) are offered at about $4/month carry, which buyers refuse to pay. The Russian government is studying the possibility of reducing the current export tax in an effort to increase the domestic price level. If the limit for calculating it is raised from 5,500 rubles to 6,500 (the level observed by the government), the export tax may fall from...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.