Although Russian wheat prices continued to erode, the overall effects were tempered by a firmer ruble. Bulgarian farmers have started planting corn, but they intend to reduce the crop's acreage by about 10 percent in favor of another crop. Milling Wheat The Black Sea market remained essentially unchanged from last week. Russia’s domestic market continued to erode, losing about 150-200 rubles ($3-4/MT), but the effect on the export market was negligible due to a firmer ruble. The barrier imposed by the Turkish government on Russian wheat imports (if maintained) will certainly add weight on the old crop prices in the coming weeks/months. Ukraine has exported about 14 MMT since the start of the campaign and the remaining surplus is less than...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.