Russian Grain Markets: 29 May – 2 June 2023 Russian farmers are in the final stage of spring planting. Russian Ministry of Agriculture reported that as of early June, 50.7 Mha were planted which is 92 percent of the forecast. A year ago, the planted area was 49.1 Mha. Spring grains are planted over 29 Mha or 96.7 percent of the forecast versus 27.2 Mha a year ago of which spring wheat was 13.5 MMT, barley – 7 MMT, corn – 2.5 MMT, and rice – 159,400 MT. Late May and early June remained bearish, however, the government realized, maybe too late, that the only way to speed up exports and reanimate trading this season is to soften or cancel export duties. Of course, the government has not forgotten to give a comma...
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.