The wheat market in Romania and Bulgaria was quiet last week without any trades reported. Some parcels of both origins' 12.5 percent wheat are offered in the mid-$180s/MT FOB, but there are no close buyers. Demand can be found in the high $170s/MT FOB from one country. Milling Wheat The Black Sea market again remained about unchanged last week. Turkey has finally reopened the door to Russian wheat imports after ending a ban that lasted approximately two months. Domestic prices in Russia continue to erode, but the FOB prices are still steady. There are rumors of difficulties collecting the value-added taxes (VATs) back from the authorities, and this may be the reason why exporters are reluctant to put new sales on the books. The weather is...
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.