The market in Spain was quiet last week with local old crop barley being the cheapest available feed grain. The feed wheat there is competitive versus corn for July-September, but it is more attractive for a different period. Milling Wheat The Black Sea market was very quiet last week. Russian farmer selling remains slow despite the $15 inverse between the old and new crop prices. That pace will probably continue even in the new crop as the FOB Novorossiysk price for July is about 13 percent below what it was for the same shipment period last year in terms of RUB, although it is similar in USD. This reflects the RUB’s 13 percent appreciation against the USD in one year.The EU exported 322,000 MT of wheat last week, bringing the accumulate...
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
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.