Milling Wheat The Black Sea market remains well supported due to increasing demand from the major destinations in North Africa, the Middle East and Asia. The Russian domestic market was firmer last week, and the ruble is up 1 percent week-over-week against the U.S. dollar. The market is closely monitoring the wave of arctic cold crossing parts of Russia, Ukraine, and the EU. The extreme cold will certainly create crop development risks in the regions not adequately covered with snow. However, the extent of the damage (winterkill) is difficult to assess at this stage. The Egyptian GASC bought 120 KMT of Russian wheat last week at an average price of $223.50/MT CNF which was about $2/MT higher versus the previous tender. The c...
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...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.