Milling Wheat The EU allocated 538,000 MT of wheat export licenses, bringing the total to 14.7 MMT (excluding durum and flour) versus 10.3 MMT allocated at the same time last year. The market believes that the EU's exportable surplus (excluding durum and flour) is around 17 MMT. At the current pace of about 500,000-600,000 MT of commitments per week, the surplus will be gone in one month. Logically, the export pace should start slowing down in April/May as harvesting begins in North African countries. The market will follow the allocation of licenses closely in the coming weeks.The market in the Mediterranean was more active this week, with Tunisia, Algeria, Morocco and Lebanon taking coverage for April and May. Algeria bought 350,000 MT...
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...
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 €...
Key Takeaways: The tariff burden rose sharply in 2025 and 2026: the effective rate on imports in HTS Chapters 1–24 increased from 1.53 percent in 2024 to 6.11 percent in 2025, before averaging 5.68 percent in January–August 2026. Headline rates tell only part of the story: exemptio...
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.