Milling Wheat The Black Sea wheat market is roughly unchanged despite the volatility in the U.S. and the EU. The weather in Russia improved this week as the forecasted rains for the end of May have started to materialize. The rumors that Russia may restrict grain exports (as it did in 2010) have been forgotten for the time being. The size of the Russian crop is estimated at around 52-53 MMT (versus USDA's 56 MMT). One of the major Russian analysts, Sovecon, is estimating wheat exports in 2012/13 at 14 MMT, about 7 MMT less than in the current campaign. The Ukrainian wheat crop is estimated at 13-14 MMT, about 7-8 MMT less than last year's, which means that the wheat exports in 2012/13 will be very limited. Kazakhstan has been hit by one...
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 €...
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