The uncertainty that Russia’s invasion has brought to agricultural markets continues. Roughly 32.9 MMT of grain has been exported from Ukraine since the Black Sea Grain Initiative (BSGI) began in July 2022. Russia refused to extend it Monday, siting the continued sanctions that target Russian leadership and financial institutions, which extended to its exclusion from the SWIFT international payment system. Russia's withdrawal from the BSGI, which includes canceling its guarantees for safe navigation for ocean vessels, also ended an agreement between the United Nations and Moscow in which U.N. officials agreed to help Russian food and fertilizer exports reach world markets. China is a notable exception to the U.S.-led effort to impose...
What You Need to Know Today: The U.S. and Iran resumed missile strikes after a brief pause in fighting, raising concerns that the five-month conflict could expand across the Middle East. Jordan intercepted Iranian missiles, Kuwait reported a fatal strike, and drone attacks damaged two natural...
Wow – what a week for freight markets. Things are changing incredibly rapidly as escalations in the U.S.-Iran war and the Ukraine-Russia conflict reshape global shipping risks and approaches beyond simple rate and insurance cost adjustments. Too, the Panama Canal has shifted its stance on...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
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.