The Egyptian GASC purchased 240,000 MT of Russian wheat and 120,000 MT of Romanian origin over the weekend, paying $204.02-206.40/MT CNF for 10-20 July shipment. The prices were about $3 higher than in the previous week’s tender, most likely because of one particular factor. Milling Wheat The harvest in the Black Sea region is expected to start in just a few weeks, and farmers have sold a much smaller percentage of their production than they usually do at this point. The Russian crop is estimated at 67-69 MMT (versus 73 MMT last year) with Ukraine’s projected at 24-25 MMT (versus 26 MMT last year). The weather during the next four to six weeks will be crucial in determining the final size and quality of the winter wheat crop.The Egyptian...
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
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.