Milling Wheat The milling wheat market in the Black Sea is extremely firm with very limited volume offered in the export market. Russian wheat nominally remains the cheapest origin for the Mediterranean; however, offers for Russian wheat are difficult to find and the price for this origin will not continue to be so competitive if the destinations are not as quiet as they were today. The estimates for the Russian crop are ranging from 46-49 MMT and the projected exports are about 12 MMT (versus 21 MMT in 2011/12).The EU allocated 98,000 MT of wheat export licenses in the second week of the new campaign, bringing the total to 200,000 MT versus 359,000 MT allocated at the same time last year.The weather in Bulgaria and Romania is favorable...
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 €...
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.