Milling Wheat The market in the Black Sea remained nearly unchanged this week despite the volatility in the U.S. futures. The focus is progressively shifting towards the new crop. At $255 FOB, the new crop Russian 11.5 percent protein wheat is about $20 cheaper than the French, but it's about $5 more expensive than U.S. SRW.In an effort to keep the domestic market stable, the Russian government sold 147,000 MT of grains this week from the intervention stocks.The EU allocated 279,000 MT of wheat export licenses this week, bringing the total for the campaign to 11.1 MMT. The cumulated export licenses on the same date last year were 16.2 MMT.The weather in Bulgaria and Romania is favorable for winter wheat development. The region received a...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.