The EU allocated 85,000 MT of “zero duty” import licenses for Ukrainian wheat, leaving a balance of only 140,000 MT under that quota for the rest of the calendar year. The remaining licenses will certainly be taken shortly as Ukrainian origin (without levy) is competitive versus others as well as against corn in Spain. Milling Wheat The Black Sea market is firmer due to slow farmer selling as well as the uptrend in MATIF and CBOT. The Russian ruble is approximately 3 percent higher than last Monday, which complicates the origination.The EU allocated 735,000 MT of wheat export licenses last week, bringing the total to 20.1 MMT versus 23.7 MMT at the same time last year.The Egyptian GASC purchased 240,000 MT last week at the average price o...
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
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.