The demand for feed wheat at current prices is difficult to find as corn is about $10-20 cheaper. In Spain, the spread between Brazilian corn and Bulgarian feed wheat is even wider. Milling Wheat The Black Sea market followed the trend of the U.S. futures’ markets to a limited extent. Ukrainian 11.5 pro and Russian 12.5 were up about $3 for the week. The value-added tax (VAT) problem in Russia is still not resolved, and the domestic market is slightly firmer in RUB expression despite the approaching start of harvest. While the Black Sea wheat is now by far the cheapest origin, local farmers are still reluctant to sell at current prices.The EU exported 123,000 MT last week, bringing the total to 23.3 MMT. The campaign’s final n...
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
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.