Saudi Arabia bought 640,000 MT of hard wheat for October/November at prices equivalent to about $196-198 FOB. The cheapest origins were Germany, Poland and Lithuania. However, there was one country excluded from the list of acceptable suppliers. Milling Wheat The Black Sea market is firmer due to slow farmer selling. Most analysts now estimate the Russian crop at 70 MMT compared with 61 MMT last year. Nevertheless, those farmers with storage or agreements for such prefer to avoid selling during the harvest season on the assumption that prices will rise later in the campaign. Keeping the wheat is a good hedge for them against the risk of currency devaluation.The EU allocated 450,000 MT of wheat export licenses last week, bringing the accum...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
We have described the long-term investment climate in crop and livestock production, using data primarily from the Bureau of Economic Analysis (BEA). The data provided background on the current investment climate and outlook for agricultural capital formation. Our conclusion was that investment...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.