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: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
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.