Milling Wheat The wheat market in the Black Sea was quiet last week. Several vessels are loading in Bulgaria for Libya and Morocco. About 100,000 MT were loaded last week and another 100,000 MT currently are being loaded. We estimate that the remaining surplus in Bulgaria is not more than 200,000 MT. The domestic market feels very tight because most farmers have liquidated their old crop stocks and now are focusing on the spring field work.The weather in Bulgaria and Romania has been favorable for winter wheat development during the last two weeks. Precipitations have been above the normal seasonal level and temperatures slightly below. There is no frost risk with temperatures at around 5 degrees Celsius.The value for Bulgarian/Romanian...
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
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.