The combination of the lower U.S. corn price and a firmer EUR versus the USD raised the theoretical import levy to about €5/MT. The actual levy is currently at zero, but that will automatically change if the theoretical meets a certain condition. Milling Wheat The Black Sea market remained about unchanged last week. Offers for Russian 12.5 protein remained in the mid-$180s FOB Novorossiysk, and the offered volume was limited. The weather in Ukraine and southern Russia is favorable for winter wheat development. Farmers in Russia’s northern regions are starting to plant spring wheat in accordance with the normal seasonal schedule.The Egyptian GASC purchased 60,000 MT of French wheat in last week’s tender at $192.34 CNF. A cargo of Ukrainian...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.