The market in Bulgaria and Romania is slightly more active due to the price rally of Russian and Ukrainian wheat. Romania sold a cargo to Egypt’s GASC, and the Bulgarian feed wheat is now the cheapest origin for the Spanish Mediterranean ports. Milling Wheat The Black Sea market was significantly firmer last week as a result of slow farmer selling and the stronger Russian ruble. Russian wheat is about $15 higher from the lows of mid-September when the exchange rate was around 69 rubles per USD. Today, it is 61 rubles or approximately 12 percent higher. The drought threatening the winter wheat’s early development in eastern Ukraine and western Russia remains a concern, but there is rainfall in the regional forecast for next week.The EU all...
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
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.