The old crop feed wheat and corn market in the Black Sea is much firmer because of slow farmer selling and short covering demand. This has impacted the inverse between old and new crop prices, which had been almost flat 10 days ago. Milling Wheat The Black Sea market is firmer due to slow farmer selling at the end of the campaign. Weather conditions are favorable for winter wheat development in Russia and Ukraine, and local analysts are revising their crop estimates upward.The EU allocated 712,000 MT of wheat export licenses last week, bringing the total to 24.5 MMT versus 27.1 MMT at the same time last year.The harvest has started in Egypt, and the GASC has begun buying wheat from farmers at prices much above the world market. Because it...
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.