Milling Wheat The Black Sea market remained under pressure last week due to the absence of fresh demand for old crop wheat as well as the favorable weather prospects for the first half of May. Buyers/consumers in the main destinations seem to be covered for the next two months since they are only showing interest for the new crop. As their plan is to maintain the lowest possible stocks at the junction between the two campaigns, the earliest possible delivery they are seeking is July. The average trade estimates for the Russian and Ukrainian crops are around 80 MMT and 28 MMT, respectively, versus 72 MMT and 24.5 MMT, respectively, last year. The EU exported only 103,000 MT last week, bringing the total to 17.1 MMT versus 17.8 MMT at the s...
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.