At today’s prices, the Russian 12.5 pro wheat is about $15 cheaper than the German wheat and approximately $20 less than U.S. HRW on FOB basis. For December/January, though, a different origin is offered at less than $10 premium versus Russian wheat. Milling Wheat The Black Sea market is slightly weaker for nearby shipment, but the deferred positions remain unchanged. Russia’s wheat crop is estimated at a record 70 MMT and the export surplus at 30 MMT versus 61 MMT and 23.5 MMT, respectively, last year. This means that origin will be available and must stay competitive during the entire campaign. At today’s prices, the Russian 12.5 pro wheat is about $15 cheaper than the German wheat and approximately $20 less than U.S. HRW on FOB basis...
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...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.