The ability to plan purchases more accurately helps reduce exposure to price risk and increase the overall predictability of earnings.
LONDON, UNITED KINGDOM, November 25, 2021 /EINPresswire.com/ — Mintec, the leading independent provider of commodity prices, analytics and forecasts for the food and beverage sector, has recently launched two new forecasts – U.S. wheat and corn.
The launch extends the coverage for price forecasts to over 60 commodities, which have all been fully integrated into the award-winning SaaS platform, Mintec Analytics. This unique platform provides access to over 15,000 commodity prices to support businesses:
• Control exposure to price risk
• Optimize the timing of their supplier contracts
• Increase the predictability of their earnings
For many companies across the food and beverage sector, wheat and corn represent a significant portion of their raw material purchases, and as a result, signify a large percentage of their procurement costs.
In addition, the high price volatility associated with these markets makes it difficult for corporations to plan their grain purchases effectively or adjust their buying strategy when market conditions change.
These new Mintec price forecasts provide businesses with access to actionable price predictions, so food and beverage companies can refine their procurement strategy of these grains and make substantial savings. The new U.S. wheat and corn forecasts complement the large range of U.S. relevant forecasts in Mintec Analytics which include coffee, sugar, cocoa, orange juice, SMP, soybean and base and ferrous metals.
Mintec’s forecasts for U.S. wheat (Mintec code: WHTC) and corn (Mintec code: CRNC) are regularly reviewed to deliver target prices for up to 3 years, alongside timely hedging recommendations. This enables businesses to optimize the timing of their negotiations with suppliers and avoid locking in long term contracts at high prices.
“These new forecasts and hedging advice will help our customers in North America to understand future price trends better so they can optimize their buying strategy and increase the profitability of their business.”— Spencer Wicks, CEO of Mintec
Mintec’s forecast methodology incorporates a comprehensive set of fundamentals data, macroeconomic and technical analysis to deliver reliable price predictions. This methodology has been tried and tested for over 15 years and is curated by a team of analysts with substantial expertise in commodity price forecasts.
The new forecasts deliver a competitive advantage for companies that are reliant on these largely speculative and opaque markets. By having access to reliable forecasts, businesses are empowered to adjust to unfavorable market conditions while mitigating commodity price volatility to maximize their profits.
Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for more than 15,000 food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyze their spend and negotiate with confidence.
Mintec Commodity Price Forecast Service
Source: EIN Presswire