Regional News ProZerno forecasts Russia’s 2024 total grain production will hit 135-136 MMT, down from 144.9 MMT in 2023. Wheat production is forecast to fall from 92.8 to 88 MMT this year, with barley production down from 21.1 to 18 MMT. Russia’s corn production should fall from 16.6 to 15 MMT. Turkey announced a tender for the import of 100 KMT of hard wheat with delivery from 20 May – 12 June 2024. Egypt purchased 750 KMT of wheat from its domestic market, which equates to 21 percent of its 3.5 MMT planned purchases for the season. Milling Wheat Wheat prices rallied sharply last week as weather and crop conditions deteriorated in major producing regions. Additionally, further disruption...
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.