Milling Wheat The Black Sea market was again little changed last week. Russia’s domestic prices as well as the ruble remained stable. Its new crop 12.5 pro wheat is offered at $198/MT FOB Novorossiysk, which is about $12/MT below the old crop offers (April and May). The EU reported only 108,000 MT were exported last week, bringing the cumulated total to 14.1 MMT versus 18.2 MMT at the same time last year. At current prices and with Russia’s current export pace, EU exports will probably not exceed 20.5 MMT this year (against 24.1 MMT last year); most analysts’ estimates were around 24-25 MMT at the start of the campaign. Consequently, the 30 June ending stocks are expected to be quite heavy, especially in France. Tunisia...
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...
We have described the long-term investment climate in crop and livestock production, using data primarily from the Bureau of Economic Analysis (BEA). The data provided background on the current investment climate and outlook for agricultural capital formation. Our conclusion was that investment...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.