Russian Grain Markets: 5–9 August 2024 Crop Outlook Russian analysts woke up to the fact that grain production reported from farms is higher than originally predicted. The reaction was quick and most of the main analytical agencies in Russia reforecast their numbers upwards. Particularly, IKAR increased their forecast from 128 MMT to 129.5 MMT excluding occupied territories but including Crimea. They predict wheat production at 83.8 MMT versus 83.2 MMT, barley at 17.2 MMT versus 16.9 MMT, and corn at 14.3 MMT versus 14 MMT. Logically, if you increase production, you might as well increase export potential. That was done and now IKAR sees Russia as a potential exporter of 56.2 MMT of grains versus 55 MMT earlier, of which wheat is 4...
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.