Russian Grain Markets: 20–24 May 2024 Crop Outlook Russian weather, particularly spring frosts, became an important factor in estimating the potential of this season’s crop. Despite the warnings from government agencies not to publish forecasts, several Russian analysts still announced their forecast for 2024. All of those were negative showing that Russia will reap a smaller wheat harvest. The government should be happy as they can expect better revenues thanks to bullish sentiments on the global wheat market. Noteworthy is that the Russian Institute of Agricultural Commodities Market (IKAR) has downgraded grain production forecasts four times in a row in the month of May. Their latest forecast is downgraded from 132 M...
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.