With 27 MMT of exports, the EU wheat carryout stocks will be significantly tighter than last year. However, Western Europe's crop seems to be developing faster this year due to favorable weather. Milling Wheat The Black Sea market remained mostly unchanged last week with limited offers and little demand. The Ukrainian and Russian new crop is developing under generally favorable weather conditions and offered at about $15/MT lower than the old crop.Last Friday, Egypt's GASC purchased 55,000 MT of Russian, 120,000 MT of Romanian and 55,000 MT of Ukrainian wheat at prices equivalent to around $300/MT CNF Egypt. The prices were $5-10/MT lower compared with the cost of the offered levels in the FOB market. French wheat was offered around $13/M...
Key Takeaways: Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total rev...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
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.