Milling Wheat The Black Sea market remained about unchanged last week. Domestic prices in Russia continue to rise in the south (close to the ports) while declining in Siberia and the Urals. USDA boosted its estimate for the Russian crop by 1 MMT to 82 MMT, but exports were left unchanged at 32.5 MMT. The EU exported only 10,000 MT last week, bringing the total to 5 MMT versus 7.7 MMT at the same time last year. That gap is widening every week, and it seems increasingly unlikely that the EU will achieve the same export number as last year. USDA is even projecting exports at 28.5 MMT, up 1.2 MMT from last year. With the weaker EUR and the break of the MATIF futures last week, EU wheat started to become competitive against Russian/Ukrainian...
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
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.