Russia's wheat exports were slower than expected in July at only 1.3 MMT. There seems to be one main reason for this trend, which is forcing exporters to take excessive risks. Milling Wheat The Black Sea market remains under pressure as the harvest in Ukraine and Russia is progressing rapidly with yields reportedly exceeding expectations. Russia's crop is now estimated at approximately 59 MMT or about 4 MMT higher than a month ago. Its exports, however, are slower than expected at only 1.3 MMT in July. The main reason for this trend seems to be the lack of clarity regarding the new export tax regulation and its diverging interpretations by the different customs offices in Russian ports. This new tariff is equivalent to half of the differe...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.