Milling Wheat The Black Sea market was lower last week as the old-crop/new-crop inverse is eroding. The new-crop harvest is expected to start in 2 weeks in the most Southern regions. The weather in Russia and Ukraine remains dry and the market is divided between those who believe the March/early April rains helped the wheat resist the last 6 weeks’ drought and those who believe the drought will cut yields. In addition to the drought, excessive rains in northern Russia have disrupted the spring wheat planting. Some 2 million hectares have either not been planted or were planted too late. Consequently, the range of estimates of the Russian crop is very wide. The most optimistic estimates are 75-77 MMT (versus 85 MMT last year) a...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.