The EU allocated 85,000 MT of “zero duty” import licenses for Ukrainian wheat, leaving a balance of only 140,000 MT under that quota for the rest of the calendar year. The remaining licenses will certainly be taken shortly as Ukrainian origin (without levy) is competitive versus others as well as against corn in Spain. Milling Wheat The Black Sea market is firmer due to slow farmer selling as well as the uptrend in MATIF and CBOT. The Russian ruble is approximately 3 percent higher than last Monday, which complicates the origination.The EU allocated 735,000 MT of wheat export licenses last week, bringing the total to 20.1 MMT versus 23.7 MMT at the same time last year.The Egyptian GASC purchased 240,000 MT last week at the average price o...
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...
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.