Milling Wheat There were no changes in the Black Sea market last week. The Russian domestic market was stable except for the approximate $4/MT increase in the southern region (close to the ports) for the second consecutive week. This confirms that the surplus there is almost depleted, and exporters are chasing the wheat further inland. The longer distances are requiring more wagons and trucks, but there is a lack of adequate transportation capacity to cover the current export commitments. Consequently, the FOB price for the old crop positions is not expected to come down soon. The new crop Russian 12.5 pro is offered at $200/MT FOB Novorossiysk or about $10/MT less than the old crop, which is also about $20/MT cheaper than the EU 12.5 pro...
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...
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