While the Ukrainian feed wheat price lost about $12 during the past three weeks, the market in Bulgaria and Romania showed a different price change as a result of the farmers' stance in those two countries. Milling Wheat The Black Sea market is weaker for September shipment due to harvest pressure and slow demand. However, the forward positions are offered at a strong premium as farmers are aggressively selling the spot position only to assure adequate storage space for their crops.The EU allocated 371,000 MT of wheat export licenses last week, bringing the cumulated total to 5.4 MMT versus 4.2 MMT at the same time last year.The Egyptian GASC didn’t receive a single offer in its 16 September tender due to the zero ergot tolerance. The gov...
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.