Milling Wheat The Black Sea market corrected lower during the past two weeks as it probably rallied too fast and too high in the first 10 days of August, but the fundamentals haven’t changed. Crop estimates in Russia have narrowed to 68-69 MMT. The big remaining question is whether domestic consumption there will decrease proportionally to the size of the crop. USDA is projecting that demand will be 7 MMT or 15 percent lower than last year. Many operators do not share that opinion due to the stable economic growth and growing meat consumption in Russia. If the drop in domestic wheat consumption is only 5 percent or 2 MMT (versus USDA’s 7 MMT), it would reflect a maximum exportable surplus of 30 MMT (against USDA’s 35 MMT)...
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
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.