Algeria announced a tender today for July shipment, and the most likely origins are France, Germany and the Baltic. While the Black Sea new crop wheat for shipment that month is about $20 cheaper than Germany’s, though, OAIC will pay the higher price because of one issue. Milling Wheat The Black Sea market remained about unchanged last week. The news about a potential warming of trade relations between Russia and Turkey didn’t affect prices. Weather in south Russia and Ukraine remains generally favorable for winter wheat development with below-normal temperatures and normal precipitation forecast for the next 10 days.The EU exported 229,000 MT of soft wheat last week, bringing the total to 20.7 MMT versus 25.5 MMT a year ago at the same t...
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
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.