Russian Grain Markets: 27 February – 3 March 2023 Russian grain markets maintained previous price levels and in certain segments were even slightly bullish particularly in top grade milling wheat. Low quality milling wheat and feed wheat are abundant and have been bearish for awhile going even lower than feed barley. Feed corn is the only commodity which added a buck per ton. The key fundamentals remain the same: bearish world prices, growing export duties, and a weakening domestic currency. Domestic prices are fully dependent on the above trends. The Russian government continues raising export duties despite a bearish world market. Wheat export duty is now at now almost $72/MT. Independent analysts tried to calcu...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Regional News Dry weather across the UK and Europe is becoming increasingly concerning for the 2027 crops as planting intentions are lowered amid dry soil conditions. Delayed sowing or establishment under adverse conditions could leave crops more vulnerable to frost/freeze events and dise...
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.