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: 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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Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.